South Dakota Soybean Processors, LLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 03:50 pm IST
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South Dakota Soybean Processors, LLC reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 184.94 million compared to USD 175.25 million a year ago. Net income was USD 9.71 million compared to USD 22.76 million a year ago. Basic earnings per share from continuing operations was USD 0.32 compared to USD 0.75 a year ago.
For the six months, sales was USD 356.85 million compared to USD 346.97 million a year ago. Net income was USD 32.45 million compared to USD 41.06 million a year ago. Basic earnings per share from continuing operations was USD 1.07 compared to USD 1.35 a year ago.
South Dakota Soybean Processors, LLC is an owner and operator of two soybean processing plant and a soybean oil refinery in the state of South Dakota. The Company also owns and operates a small oilseed processing plant near Miller, South Dakota. The Companyâs core business consists of processing locally grown soybeans into soybean meal and soybean oil. It sells the soybean meal primarily to resellers, feed mills, and livestock producers as livestock feed. It markets and sells multiple grades of soybean oil in either crude or refined format. Crude and refined soybean oil are marketed and sold to the food, biodiesel and chemical industries. It also markets and sells contracting services for the construction and management of oilseed processing plants. Its soybean meal is primarily sold to resellers, feed mills, and livestock producers as livestock feed. The meal is primarily sold to customers in the local area (within 200 miles of its Volga plant), Western United States, and Canada.
SOUTH DAKOTA SOYBEAN PROCESSORS, LLC 
