Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 24

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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ross profit6,179,679 2.7 15,897,393 5.3 Operating expenses(3,406,750)(1.5)(3,137,428)(1.1)Interest expense(2,378,004)(1.0)(3,373,060)(1.1)Other non-operating income (expense)1,244,577 0.5 3,328,466 1.1 Net income1,639,502 0.7 12,715,371 4.3 Net income attributable to non-controlling interests in consolidated entities(1,760,424)(0.8)1,210,558 0.4 Net income attributable to Company$3,399,926 1.5 $11,504,813 3.9 

Revenue – Revenue decreased by $69.4 million, or 23.3%, for the six-month period ended June 30, 2025, compared to the same period in 2024 due to decreases in the average sales price of soybean products and in production. The average soybean meal prices declined by 17.0% from 2024 due to an increase in U.S. soybean crushing capacity in 2024. The average price of soybean oil decreased 17.5% during the six months ended June 30, 2025, compared to the same period in 2024, due to a decrease in demand. Soybean oil demand from the energy sector dropped dramatically in 2024 as refining margins for biodiesel and renewable diesel producers came under intense pressure from overproduction which led to production slowdowns at some locations. In addition, imports of used cooking oil and other feedstocks flooded the market, contributing to an oversupply and adversely affecting soybean oil sales. 

Gross Profit/Loss – Gross profit decreased by $9.7 million, or 61.1%, for the six months ended June 30, 2025, compared to the same period in 2024. The decrease was mainly due to declining board crush margins which was caused by a decrease in demand for soybean oil and an increase in United States soybean meal supply.

Operating Expenses – Administrative expenses, including all selling, general and administrative expenses, increased approximately $269,000, or 8.6%, during the six-month period ended June 30, 2025, compared to the same period in 2024,