South Dakota Soybean Processors LLC Files Q2 2024 10-Q
Ticker: SDSYA · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1163609
| Field | Detail |
|---|---|
| Company | South Dakota Soybean Processors LLC (SDSYA) |
| Form Type | 10-Q |
| Filed Date | Aug 12, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, soybean
TL;DR
**SDSP Q2 2024 10-Q filed. Financials out.**
AI Summary
South Dakota Soybean Processors LLC filed a 10-Q for the period ending June 30, 2024. The filing covers financial information for the second quarter and the first six months of the fiscal year. Specific financial details such as revenue, expenses, and net income for these periods are detailed within the report.
Why It Matters
This filing provides investors and stakeholders with the latest financial performance data for South Dakota Soybean Processors LLC, crucial for understanding the company's operational health and market position.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20240812 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- SOUTH DAKOTA SOYBEAN PROCESSORS LLC (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240812 (date) — Filing Date
- FATS & OILS (industry) — Standard Industrial Classification
FAQ
What were the total revenues for the three months ended June 30, 2024?
The filing does not explicitly state the total revenues for the three months ended June 30, 2024, but provides detailed financial statements for the period.
What is the company's net income for the six months ended June 30, 2024?
The filing does not explicitly state the net income for the six months ended June 30, 2024, but provides detailed financial statements for the period.
What was the company's financial position as of December 31, 2023?
The filing includes comparative financial data, with the balance sheet as of December 31, 2023, being available for comparison.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code for South Dakota Soybean Processors LLC is 2070, categorized under FATS & OILS.
When was the company formerly known as Soybean Processors LLC?
The company was formerly known as Soybean Processors LLC, with a date of name change to South Dakota Soybean Processors LLC on 20011213.
Filing Stats: 4,531 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-08-12 13:42:57
Filing Documents
- sdsp-20240630.htm (10-Q) — 782KB
- exhibit31120240630.htm (EX-31.1) — 10KB
- exhibit31220240630.htm (EX-31.2) — 11KB
- exhibit32120240630.htm (EX-32.1) — 6KB
- exhibit32220240630.htm (EX-32.2) — 6KB
- sdsp-20240630_g1.jpg (GRAPHIC) — 12KB
- 0001163609-24-000020.txt ( ) — 5226KB
- sdsp-20240630.xsd (EX-101.SCH) — 46KB
- sdsp-20240630_cal.xml (EX-101.CAL) — 54KB
- sdsp-20240630_def.xml (EX-101.DEF) — 190KB
- sdsp-20240630_lab.xml (EX-101.LAB) — 515KB
- sdsp-20240630_pre.xml (EX-101.PRE) — 348KB
- sdsp-20240630_htm.xml (XML) — 701KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 24 Item 4.
Controls and Procedures
Controls and Procedures 24 Part II. OTHER INFORMATION 24 Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults among Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 25
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements South Dakota Soybean Processors, LLC Condensed Consolidated Financial Statements June 30, 2024 and 2023 3 South Dakota Soybean Processors, LLC Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 98,723,668 $ 72,910,336 Trade accounts receivable 34,608,445 43,548,706 Inventories 78,033,416 72,045,951 Commodity derivative instruments 8,165,256 10,334,681 Margin deposits 2,311,049 1,342,978 Prepaid expenses 4,201,466 5,621,052 Total current assets 226,043,300 205,803,704 Property and equipment 316,268,831 246,347,535 Less accumulated depreciation ( 74,406,025 ) ( 71,419,705 ) Total property and equipment, net 241,862,806 174,927,830 Other assets Investments in related parties 15,073,570 13,637,150 Investments in cooperatives 1,797,563 1,737,862 Right-of-use lease asset, net 27,504,427 28,297,874 Other assets 656,000 336,500 Total other assets 45,031,560 44,009,386 Total assets $ 512,937,666 $ 424,740,920 (continued on the following page) 4 South Dakota Soybean Processors, LLC Condensed Consolidated Balance Sheets (continued) June 30, 2024 December 31, 2023 (Unaudited) Liabilities and Members' Equity Current liabilities Excess of outstanding checks over bank balance $ 8,825,038 $ 15,728,259 Current maturities of long-term debt 10,200,000 — Note payable - seasonal loan 32,365,300 — Current operating lease liabilities 2,838,848 2,798,561 Accounts payable 14,639,303 7,462,996 Accrued commodity purchases 37,713,905 66,240,599 Commodity derivative instruments 6,575,302 5,939,687 Accrued expenses 3,521,790 6,700,564 Accrued interest 543,090 19,171 Deferred liabilities - current 998,467 737,503 Total current liabilities 118,221,043 105,627,340 Long-term liabilities Long-term debt, net of current maturities 45,600,000 — Long-term operating lease liabilities 22,112,007 22,827,885 Deferred liabilities 95,094 54,0