Cardinal Ethanol, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2021
August 04, 2021 at 02:40 pm
Share
Cardinal Ethanol, LLC announced earnings results for the third quarter ended June 30, 2021. For the third quarter, the company announced sales was USD 117.272 million compared to USD 51.252 million a year ago. Operating income was USD 7.849 million compared to USD 67,815 a year ago. Net income was USD 7.745 million compared to USD 35,096 a year ago. Basic earnings per share from continuing operations was USD 530 compared to USD 2 a year ago. For the nine months, sales was USD 308.424 million compared to USD 182.267 million a year ago. Operating income was USD 13.490 million compared to operating loss of USD 4.786 million a year ago. Net income was USD 13.555 million compared to net loss of USD 4.526 million a year ago. Basic earnings per share from continuing operations was USD 928 compared to basic loss per share from continuing operations of USD 310 a year ago.
Cardinal Ethanol, LLC and its subsidiaries is engaged in producing fuel-grade ethanol, distillers grains, corn oil and carbon dioxide near Union City, Indiana and sells these products throughout the continental United States. In addition, the Company procures, transports, and sells grain commodities through grain operations. Its divisions include ethanol and trading. Its ethanol division markets and sells ethanol and its co-products primarily in the continental United States using third party marketers. Its ethanol products are marketed by Murex, LLC and distillers grains are marketed by CHS, Inc. It markets and distributes all the corn oil it produces directly to end users and third-party brokers. The Company's trading division has a grain loading facility within its single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. It performs no additional processing of these grains, unlike the corn inventory the Company holds and uses in ethanol production.
CARDINAL ETHANOL, LLC 
