Granite Falls Energy, Llc Reports Earnings Results for the Full Year Ended October 31, 2019
January 30, 2020 at 01:27 am IST
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Granite Falls Energy, LLC announced earnings results for the full year ended October 31, 2019. For the full year, the company announced sales was USD 208.777 million compared to USD 210.312 million a year ago. Operating loss was USD 10.276 million compared to operating Income of USD 3.301 million a year ago. Net loss was USD 8.390 million compared to net income of USD 2.864 million a year ago. Basic loss per share from continuing operations was USD 274.16 compared to basic earnings per share from continuing operations of USD 93.58 a year ago.
Granite Falls Energy, LLC is engaged in the production and sale of ethanol and its co-products (wet, modified wet and dried distiller's grains, corn oil and corn syrup) locally and throughout the continental United States. The principal products from ethanol production at the Company's plant and its subsidiary, Heron Lake BioEnergy, LLC (HLBEs) plant are fuel-grade ethanol, distiller grains, and non-edible corn oil. In addition, HLBE's plant also includes corn syrup and natural gas pipeline operations. It also extracts non-edible crude corn oil. It sells distillers grains (DDGS) as animal feed for beef and dairy cattle, poultry and hogs. Its corn oil is primarily sold to diesel manufacturers and, to a lesser extent, feed lot and poultry markets. Its ethanol production operations are carried out at its ethanol plant located in Granite Falls, Minnesota, and at the ethanol plant operated by HLBE located near Heron Lake, Minnesota. It distributes its products through third party marketers.
GRANITE FALLS ENERGY, LLC 