South Dakota Soybean Processors, Llc Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 10, 2020 at 03:50 pm IST
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South Dakota Soybean Processors, LLC announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 93.268 million compared to USD 100.331 million a year ago. Operating income was USD 5.774 million compared to USD 5.949 million a year ago. Net income was USD 5.486 million compared to USD 5.782 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.19 a year ago. For the half year, sales was USD 191.991 million compared to USD 192.298 million a year ago. Operating income was USD 6.473 million compared to USD 10.403 million a year ago. Net income was USD 5.709 million compared to USD 10.531 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.35 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 
