Highwater Ethanol, Llc Reports Earnings Results for the Second Quarter Ended April 30, 2021
June 11, 2021 at 02:28 pm EDT
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Highwater Ethanol, LLC announced earnings results for the second quarter ended April 30, 2021. For the second quarter, the company announced sales was USD 34.864 million compared to USD 20.257 million a year ago. Operating income was USD 3.718 million compared to operating loss of USD 3.883 million a year ago. Net income was USD 4.344 million compared to net loss of USD 3.951 million a year ago. Basic earnings per share from continuing operations was USD 907.21 compared to basic loss per share from continuing operations of USD 822.22 a year ago. For the half year, sales was USD 63.300 million compared to USD 47.441 million a year ago. Operating income was USD 3.181 million compared to operating loss of USD 6.379 million a year ago. Net income was USD 4.508 million compared to net loss of USD 6.568 million a year ago. Basic earnings per share from continuing operations was USD 940.99 compared to basic loss per share from continuing operations of USD 1,366.4 a year ago.
Highwater Ethanol, LLC is engaged in the production of ethanol and distillersâ grains at the plant. The Company operates through the manufacturing and marketing of fuel-grade ethanol and the co-products of the ethanol production process segment. The Company's products include Ethanol, Distillers Grains and Corn Oil. Its primary product is ethanol. Ethanol is ethyl alcohol, a fuel component made primarily from corn and various other grains. The ethanol it produces is manufactured from corn. The principal co-product of the ethanol production process is distillersâ grains, a high protein, high-energy animal feed supplement primarily marketed to the dairy, poultry, swine and beef industries. The corn oil that the Company produces is not food grade corn oil and therefore cannot be used for human consumption. Its corn oil can be used as the feedstock to produce biodiesel, as a feed ingredient and has other industrial uses.