Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 22

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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 2024$% of Revenue$% of RevenueRevenue$110,640,734 100.0 $149,716,835 100.0 Cost of revenues(110,367,359)(99.8)(141,155,491)(94.3)Gross profit273,375 0.2 8,561,344 5.7 Operating expenses(1,681,784)(1.5)(1,503,055)(1.0)Interest expense(1,227,078)(1.1)(1,919,069)(1.3)Other non-operating income (expense)184,593 0.2 1,497,166 1.0 Net income (loss)(2,450,894)(2.2)6,636,386 4.4 Net income (loss) attributable to non-controlling interests in consolidated entities(1,477,747)(1.3)606,027 0.4 Net income (loss) attributable to Company$(973,147)(0.9)$6,030,359 4.0 

Revenue – Revenue decreased by $39.1 million, or 26.1%, for the three months 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 15.4% from 2024 due to an increase in U.S. soybean crushing capacity in 2024. The average price of soybean oil decreased 13.2% during the three months ended June 30, 2025, compared to the same period in 2024, due to a decrease in demand from the energy sector as refining margins for biodiesel and renewable diesel producers came under pressure from overproduction, which led to production slowdowns at some location. In addition, imports of used cooking oil and other feedstocks lower-priced alternatives to soybean oil flooded the market, contributing to an oversupply and adversely affecting soybean oil sales. 

Gross Profit/Loss – Gross profit decreased by $8.3 million, or 96.8%, for the three 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 the U.S. soy