Highwater Ethanol, Llc Reports Earnings Results for the Third Quarter Ended July 31, 2020
September 11, 2020 at 02:17 pm EDT
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Highwater Ethanol, LLC announced earnings results for the third quarter ended July 31, 2020. For the third quarter, the company announced sales was USD 24.238 million compared to USD 25.605 million a year ago. Operating income was USD 497,484 compared to operating loss of USD 1.078 million a year ago. Net income was USD 366,274 compared to net loss of USD 1.248 million a year ago. Basic earnings per share from continuing operations was USD 76.29 compared to basic loss per share from continuing operations of USD 259.68 a year ago. For the nine months, sales was USD 71.680 million compared to USD 71.233 million a year ago. Operating loss was USD 5.881 million compared to USD 6.066 million a year ago. Net loss was USD 6.201 million compared to USD 6.547 million a year ago. Basic loss per share from continuing operations was USD 1,290.74 compared to USD 1,361.28 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.
HIGHWATER ETHANOL, LLC 
