Cardinal Ethanol, Llc Reports Earnings Results for the First Quarter Ended December 31, 2020
February 02, 2021 at 01:35 pm EST
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Cardinal Ethanol, LLC announced earnings results for the first quarter ended December 31, 2020. For the first quarter, the company announced sales was USD 93.239 million compared to USD 63.736 million a year ago. Operating loss was USD 1.283 million compared to operating Income of USD 1.293 million a year ago. Net loss was USD 1.055 million compared to net income of USD 1.638 million a year ago. Basic loss per share from continuing operations was USD 72 compared to basic earnings per share from continuing operations of USD 112 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 
