Granite Falls Energy LLC (PK:GFGY)
Business Focus: Ethanol Fuels
| Sector: Energy | Industry: Renewable Fuels |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 15045 Highway 23 S.E. GRANITE FALLS MN 56241-0216 |
| Tel: | N/A |
| Website: | https://granitefallsenergy.com |
| IR: | See website |
| Key People | ||
| Paul Enstad Chairman of the Board of Governors | Jeffrey Oestmann Chief Executive Officer, General Manager | Stacie Schuler Chief Financial Officer |
| Eric Baukol Risk Manager | Cory Heinrich Plant Manager | Dean Jerome Buesing Secretary, Governor |
| Business Overview |
| Granite Falls Energy, LLC is engaged in the production and sale of ethanol and its co-products (wet, modified wet and dried distiller's grains, corn oil and corn syrup) locally and throughout the continental United States. The principal products from ethanol production at the Company's plant and its subsidiary, Heron Lake BioEnergy, LLC (HLBEs) plant are fuel-grade ethanol, distiller grains, and non-edible corn oil. In addition, HLBE's plant also includes corn syrup and natural gas pipeline operations. It also extracts non-edible crude corn oil. It sells distillers grains (DDGS) as animal feed for beef and dairy cattle, poultry and hogs. Its corn oil is primarily sold to diesel manufacturers and, to a lesser extent, feed lot and poultry markets. Its ethanol production operations are carried out at its ethanol plant located in Granite Falls, Minnesota, and at the ethanol plant operated by HLBE located near Heron Lake, Minnesota. It distributes its products through third party marketers. |
| Financial Overview |
| For the nine months ended 31 July 2022, Granite Falls Energy LLC revenues increased 47% to $313M. Net income increased from $11.5M to $53.5M. Revenues reflect Ethanol segment increase of 48% to $243.2M, Distillers'€™ Grains segment increase of 34% to $48M. Net income benefited from Other income (expense), net increase from $2.5M to $14.6M (income), Investment income increase of 14% to $1.7M (income). |
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