Cardinal Ethanol, Llc Reports Earnings Results for the Second Quarter Ended March 31, 2021
May 05, 2021 at 01:37 pm EDT
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Cardinal Ethanol, LLC announced earnings results for the second quarter ended March 31, 2021. For the second quarter, the company announced sales was USD 97.911 million compared to USD 67.278 million a year ago. Operating income was USD 6.925 million compared to operating loss of USD 6.147 million a year ago. Net income was USD 6.865 million compared to net loss of USD 6.200 million a year ago. Basic earnings per share from continuing operations was USD 470 compared to basic loss per share from continuing operations of USD 424 a year ago. For the half year, sales was USD 191.151 million compared to USD 131.015 million a year ago. Operating income was USD 5.641 million compared to operating loss of USD 4.854 million a year ago. Net income was USD 5.809 million compared to net loss of USD 4.561 million a year ago. Basic earnings per share from continuing operations was USD 398 compared to basic loss per share from continuing operations of USD 312 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 
