South Dakota Soybean Processors, Llc Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 10, 2020 at 03:30 pm
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South Dakota Soybean Processors, LLC announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 104.454 million compared to USD 85.001 million a year ago. Operating income was USD 1.548 million compared to USD 1.868 million a year ago. Net income was USD 1.392 million compared to USD 1.654 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.05 a year ago. For the nine months, sales was USD 296.445 million compared to USD 277.299 million a year ago. Operating income was USD 8.021 million compared to USD 12.271 million a year ago. Net income was USD 7.102 million compared to USD 12.186 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.4 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 
