Granite Falls Energy, Llc Reports Earnings Results for the Second Quarter Ended April 30, 2021
June 14, 2021 at 04:03 pm EDT
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Granite Falls Energy, LLC announced earnings results for the second quarter ended April 30, 2021. For the second quarter, the company announced sales was USD 74.040 million compared to USD 33.106 million a year ago. Operating income was USD 6.970 million compared to operating loss of USD 14.455 million a year ago. Net income was USD 8.135 million compared to net loss of USD 11.883 million a year ago. Basic earnings per share from continuing operations was USD 265.83 compared to basic loss per share from continuing operations of USD 388.26 a year ago. For the half year, sales was USD 123.438 million compared to USD 86.463 million a year ago. Operating income was USD 1.586 million compared to operating loss of USD 17.172 million a year ago. Net income was USD 4.885 million compared to net loss of USD 13.383 million a year ago. Basic earnings per share from continuing operations was USD 159.61 compared to basic loss per share from continuing operations of USD 437.3 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 
