Southwest Iowa Renewable Energy, LLC Reports Earnings Results for the Full Year Ended September 30, 2022
December 10, 2022 at 02:16 am IST
Share
Southwest Iowa Renewable Energy, LLC reported earnings results for the full year ended September 30, 2022. For the full year, the company reported sales was USD 387.13 million compared to USD 302.82 million a year ago. Net income was USD 57.76 million compared to USD 8.58 million a year ago.
Southwest Iowa Renewable Energy, LLC is engaged in the production of ethanol. The Company sells its ethanol, distillers grains, corn condensed distillers soluble, distillers corn oil and carbon dioxide (CO2) in the continental United States, Mexico and the Pacific Rim. Its production facility (the Facility) is located in Pottawattamie County in southwestern Iowa, south of Council Bluffs. The principal purchasers of ethanol are wholesale gasoline marketers or blenders. The Company produces approximately 123.3 million and 127.0 million gallons of ethanol. It produces two forms of distillers grains, namely wet distillers grains with solubles (WDGS) and dried distillers grains with solubles (DDGS). The Company's system separates corn oil from the post-fermentation syrup stream as it leaves the evaporators of the ethanol plant. The corn oil is then routed to storage tanks, and the remaining concentrated syrup is routed to the plantâs syrup tank.
SOUTHWEST IOWA RENEWABLE ENERGY, LLC 