Southwest Iowa Renewable Energy, LLC Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2022
May 06, 2022 at 10:34 am
Share
Southwest Iowa Renewable Energy, LLC reported earnings results for the second quarter and six months ended March 31, 2022. For the second quarter, the company reported sales was USD 95.94 million compared to USD 70 million a year ago. Net income was USD 13.66 million compared to net loss of USD 3.15 million a year ago.
For the six months, sales was USD 197.6 million compared to USD 125.41 million a year ago. Net income was USD 42.49 million compared to net loss of USD 2.04 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 
