Southwest Iowa Renewable Energy, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2019
August 07, 2019 at 09:18 pm IST
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Southwest Iowa Renewable Energy, LLC announced earnings results for the third quarter ended June 30, 2019. For the third quarter, the company announced sales was USD 53.505 million compared to USD 53.611 million a year ago. Net loss was USD 751,000 compared to USD 3.339 million a year ago. Basic loss per share was USD 56.35 compared to USD 250.54 a year ago. For the nine months, sales was USD 160.077 million compared to USD 157.708 million a year ago. Net loss was USD 3.778 million compared to USD 3.180 million a year ago. Basic loss per share was USD 283.48 compared to USD 238.61 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 
