Southwest Iowa Renewable Energy, Llc Reports Earnings Results for the Second Quarter Ended March 31, 2020
May 22, 2020 at 07:49 pm IST
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Southwest Iowa Renewable Energy, LLC announced earnings results for the second quarter ended March 31, 2020. For the second quarter, the company announced sales was USD 50.328 million compared to USD 53.190 million a year ago. Operating loss was USD 4.141 million compared to USD 1.601 million a year ago. Net loss was USD 4.750 million compared to USD 1.816 million a year ago. Basic loss per share from continuing operations was USD 529.25 compared to USD 136.26 a year ago. For the half year, sales was USD 112.393 million compared to USD 106.572 million a year ago. Operating income was USD 53,000 compared to operating loss of USD 2.741 million a year ago. Net loss was USD 897,000 compared to USD 3.125 million a year ago. Basic loss per share from continuing operations was USD 82.87 compared to USD 234.49 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 
