Red Trail Energy, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 14, 2020 at 02:51 pm EDT
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Red Trail Energy, LLC announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced sales was USD 22.670 million compared to USD 26.302 million a year ago. Operating income was USD 2.177 million compared to USD 775,279 a year ago. Net income was USD 2.204 million compared to USD 817,986 a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.02 a year ago. For the nine months, sales was USD 72.649 million compared to USD 78.443 million a year ago. Operating loss was USD 2.515 million compared to USD 529,657 a year ago. Net loss was USD 2.283 million compared to USD 202,478 a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.01 a year ago.
Red Trail Energy, LLC owns and operates a 50-million-gallon annual name-plate production ethanol plant near Richardton, North Dakota. The principal products that the Company produces are ethanol, distillers grains, and corn oil. Ethanol is ethyl alcohol, a fuel component made primarily from corn and various other grains, which can be used as an octane enhancer in fuels; an oxygenated fuel additive for the purpose of reducing ozone and carbon monoxide vehicle emissions, and a non-petroleum-based gasoline substitute. It produces two forms of distillers grains: distillers dried grains and modified distillers grains. Modified distillers grains is processed corn mash that has been dried to approximately 50% moisture which has a shelf life of approximately seven days. Distillers dried grains is processed corn mash that has been dried to approximately 10% moisture. The primary uses of the corn oil that the Company produces are for animal feed, industrial uses, and biodiesel production.