Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 22

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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 from a moisture standpoint, extreme dryness created processing challenges which limited early-year processing. However, process adjustments completed at our Volga plant during the period led to higher production volumes and improved efficiency in the latter part of the period.

Construction on the High Plains Processing plant in Mitchell, South Dakota, has been substantially completed and has entered the operational testing. In October 2025, the plant processed its first soybeans. We expect the plant to contribute to revenues in the fourth quarter of 2025; however, actual sales volumes and operating results could differ materially from expectations as operations stabilize and ramp up. 

Looking ahead, the soybean crop harvested this past September appears to have reached record levels for South Dakota, with oil, protein, and moisture content all trending positively. Processing margins for the fourth quarter are expected to remain profitable. However, without clarity surrounding the federal biofuels policy, uncertainty will persist for the remainder of 2025 and into 2026 which could adversely affect our profitability. 

17

RESULTS OF OPERATIONS

Comparison of the Three Months Ended September 30, 2025 and 2024

Three Months Ended September 30, 2025Three Months Ended September 30, 2024$% of Revenue$% of RevenueRevenue$129,821,885 100.0 $130,645,696 100.0 Cost of revenues(116,036,034)(89.4)(128,368,221)(98.3)Gross profit13,785,851 10.6 2,277,475 1.7 Operating expenses(1,873,597)(1.4)(1,253,587)(1.0)Interest expense(1,214,645)(0.9)(1,619,282)(1.2)Other non-operating income (expense)267,274 0.2 1,033,964 0.8 Net income 10,964,883 8.5 438,570 0.3 Net income attributable to non-controlling interests in consolidated entities211,074 0.2 415,180 0.3 Net income attributable to Company$10,753,809 8.3 $23,390 — 

Revenue – Revenue decreased by $0.8 million, or 0.6%, for the three months ended September 30, 2025, compared to the same period in 2024 due to a decrease