Southwest Iowa Renewable Energy, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 07, 2020 at 03:39 pm
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Southwest Iowa Renewable Energy, LLC announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced sales was USD 34.107 million compared to USD 53.505 million a year ago. Operating loss was USD 1.221 million compared to USD 459,000 a year ago. Net loss was USD 1.417 million compared to USD 751,000 a year ago. For the nine months, sales was USD 146.500 million compared to USD 160.077 million a year ago. Operating loss was USD 1.168 million compared to USD 3.200 million a year ago. Net loss was USD 2.314 million compared to USD 3.876 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 
