Granite Falls Energy, Llc Reports Earnings Results for the Full Year Ended October 31, 2020
February 16, 2021 at 03:12 pm EST
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Granite Falls Energy, LLC announced earnings results for the full year ended October 31, 2020. For the full year, the company announced sales was USD 164.953 million compared to USD 208.777 million a year ago. Operating loss was USD 21.030 million compared to USD 10.276 million a year ago. Net loss was USD 13.278 million compared to USD 8.390 million a year ago. Basic loss per share from continuing operations was USD 433.85 compared to USD 274.16 a year ago.
Granite Falls Energy, LLC is engaged in the production and sale of ethanol and its co-products (wet, modified wet and dried distiller's grains, corn oil and corn syrup) locally and throughout the continental United States. The principal products from ethanol production at the Company's plant and its subsidiary, Heron Lake BioEnergy, LLC (HLBEs) plant are fuel-grade ethanol, distiller grains, and non-edible corn oil. In addition, HLBE's plant also includes corn syrup and natural gas pipeline operations. It also extracts non-edible crude corn oil. It sells distillers grains (DDGS) as animal feed for beef and dairy cattle, poultry and hogs. Its corn oil is primarily sold to diesel manufacturers and, to a lesser extent, feed lot and poultry markets. Its ethanol production operations are carried out at its ethanol plant located in Granite Falls, Minnesota, and at the ethanol plant operated by HLBE located near Heron Lake, Minnesota. It distributes its products through third party marketers.
GRANITE FALLS ENERGY, LLC 
