Southwest Iowa Renewable Energy, Llc Reports Earnings Results for the First Quarter Ended December 31, 2020
February 12, 2021 at 12:00 pm
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Southwest Iowa Renewable Energy, LLC announced earnings results for the first quarter ended December 31, 2020. For the first quarter, the company announced sales was USD 55.410 million compared to USD 62.065 million a year ago. Operating income was USD 1.383 million compared to USD 4.194 million a year ago. Net income was USD 1.111 million compared to USD 3.853 million a year ago. Basic earnings per share from continuing operations was USD 123.79 compared to USD 304.54 a year ago. Diluted earnings per share from continuing operations was USD 123.79 compared to USD 294.03 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 
