Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 24

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 income (expense), including patronage dividend income, decreased $0.8 million during the three months ended September 30, 2025, compared to the same period in 2024. The decline was primarily the result of a $0.9 million decrease in interest income earned on investment proceeds held by our subsidiaries in connection with the equity financing of the High Plains Processing plant.

18

Net Income/Loss – During the three-month period ended September 30, 2025, we generated a net income of $10.8 million compared to a net income of $23,000 for the same period in 2024. The $10.8 million increase was primarily attributable to an increase in gross margins.

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

 Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024 $% of Revenue$% of RevenueRevenue$358,375,928 100.0 $428,623,435 100.0 Cost of revenues(338,410,398)(94.4)(410,448,567)(95.8)Gross profit19,965,530 5.6 18,174,868 4.2 Operating expenses(5,280,347)(1.5)(4,391,015)(1.0)Interest expense(3,592,649)(1.0)(4,992,342)(1.2)Other non-operating income (expense)1,511,851 0.4 4,362,430 1.0 Net income12,604,385 3.5 13,153,941 3.0 Net income attributable to non-controlling interests in consolidated entities(1,549,350)(0.4)1,625,738 0.4 Net income attributable to Company$14,153,735 3.9 $11,528,203 2.7 

Revenue – Revenue decreased by $70.2 million, or 16.4%, for the nine-month period ended September 30, 2025, compared to the same period in 2024 due a decrease in the average sales price of soybean products and in production. The average soybean meal price declined by 17.9% from 2024 due to an increase in U.S. soybean crushing capacity in 2024