Wed, Aug 14, 7:09 PM (153 days ago)
For the quarter ended June 30, 2024, Red Trail Energy, LLC reported a decrease in revenue to $34,578 from $49,691 in the prior year, primarily due to lower average product prices and reduced ethanol sales volumes. Gross profit improved to $5,295, reflecting a gross margin of 15.3%, up from 3.3% in the previous year. Operating income rose to $4,063, while net income significantly increased to $3,805 compared to $136 in Q3 2023. Total assets declined to $104,430 from $116,790, driven by reduced cash and accounts receivable. Current liabilities fell to $8,060, while long-term liabilities decreased to $19,518. Cash flow from operations was positive at $2,984, contrasting with a larger net cash outflow from financing activities. Key uncertainties impacting future operations include fluctuating corn prices, market demand for ethanol, and potential regulatory changes. The company anticipates continued volatility in commodity markets, which may affect profitability and liquidity. Overall, while quarterly performance showed improvements in profit margins, revenue pressures and market uncertainties remain significant challenges.