Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 35

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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,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 in the average sales price of soybean products offset by an increase in quantity of soybeans processed. The average soybean meal prices declined by 19.1% from 2024 due to an increase in U.S. soybean crushing capacity in 2024. Soybean processing volume sold increased by approximately 15.9% in the third quarter of 2025 compared to the same period in 2024, primarily due to an extended shutdown at our Volga facility in 2024 during which we installed new equipment that improved operational efficiency.

Gross Profit/Loss – Gross profit increased by $11.5 million, or 505.3%, for the three months ended September 30, 2025, compared to the same period in 2024. The increase was primarily the result of an $8.3 million net gain from derivative activities on previously sold board crush contracts, compared with a loss of $3.8 million for the period ending September 30, 2024. This gain is attributed to a decrease in the value of these contracts, largely due to uncertainty in federal biofuel policy, which contributed to lower soybean oil prices.

Operating Expenses – Administrative expenses, including all selling, general and administrative expenses, increased by $0.6 million for the three months ended September 30, 2025, compared to the same period in 2024. The increase was primarily due to higher administrative costs related to the High Plains Processing plant. Higher administrative expenses reflect intensified pre‑startup activities including staffing, administrative support, facility setup, and related overhead. We anticipate administrative expenses will continue to rise in the near term as the plant enter its commissioning and operational phase.

Interest Expense – Interest expense decreased by $405,000, or 25.0%, during the three months ended September 30, 2025, compared to the same period in 2024. The decrease in interest expense was principally due to a decrease in borrowings from our credit facilities (excluding loans by our subsidiary, High Plains Processing), with an average debt level of $56.9 million during the three months ended