Cardinal Ethanol, LLC Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2022
August 04, 2022 at 04:02 pm EDT
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Cardinal Ethanol, LLC reported earnings results for the third quarter and nine months ended June 30, 2022. For the third quarter, the company reported sales was USD 133.26 million compared to USD 117.27 million a year ago. Net income was USD 34.17 million compared to USD 7.75 million a year ago. Basic earnings per share from continuing operations was USD 2,340 compared to USD 530 a year ago.
For the nine months, sales was USD 417.49 million compared to USD 308.42 million a year ago. Net income was USD 75 million compared to USD 13.56 million a year ago. Basic earnings per share from continuing operations was USD 5,135 compared to USD 928 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 
