South Dakota Soybean Processors LLC Files Q3 2024 10-Q

TL;DR

SDSP 10-Q filed for Q3 2024. Financials and ops update.

AI Summary

South Dakota Soybean Processors LLC filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial details and operational information for this period are presented.

Why It Matters

This filing provides investors and stakeholders with an update on the financial performance and operational status of South Dakota Soybean Processors LLC for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• SOUTH DAKOTA SOYBEAN PROCESSORS LLC (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date

FAQ

Filing Documents

• sdsp-20240930.htm (10-Q) — 788KB
• exhibit31120240930.htm (EX-31.1) — 10KB
• exhibit31220240930.htm (EX-31.2) — 11KB
• exhibit32120240930.htm (EX-32.1) — 6KB
• exhibit32220240930.htm (EX-32.2) — 6KB
• sdsp-20240930_g1.jpg (GRAPHIC) — 12KB
• 0001163609-24-000022.txt ( ) — 5240KB
• sdsp-20240930.xsd (EX-101.SCH) — 46KB
• sdsp-20240930_cal.xml (EX-101.CAL) — 53KB
• sdsp-20240930_def.xml (EX-101.DEF) — 190KB
• sdsp-20240930_lab.xml (EX-101.LAB) — 516KB
• sdsp-20240930_pre.xml (EX-101.PRE) — 348KB
• sdsp-20240930_htm.xml (XML) — 708KB

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 September 30, 2024 and 2023 3 South Dakota Soybean Processors, LLC Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 59,295,681 $ 72,910,336 Trade accounts receivable 30,137,951 43,548,706 Inventories 75,764,936 72,045,951 Commodity derivative instruments 9,920,343 10,334,681 Margin deposits 1,304,869 1,342,978 Prepaid expenses 3,806,072 5,621,052 Total current assets 180,229,852 205,803,704 Property and equipment 366,784,920 246,347,535 Less accumulated depreciation ( 75,874,749 ) ( 71,419,705 ) Total property and equipment, net 290,910,171 174,927,830 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 36,792,598 28,297,874 Other assets 656,000 336,500 Total other assets 54,319,731 44,009,386 Total assets $ 525,459,754 $ 424,740,920 (continued on the following page) 4 South Dakota Soybean Processors, LLC Condensed Consolidated Balance Sheets (continued) September 30, 2024 December 31, 2023 (Unaudited) Liabilities and Members' Equity Current liabilities Excess of outstanding checks over bank balance $ 10,802,133 $ 15,728,259 Current maturities of long-term debt 9,000,000 — Current operating lease liabilities 3,479,508 2,798,561 Accounts payable 20,582,056 7,462,996 Accrued commodity purchases 60,623,457 66,240,599 Commodity derivative instruments 11,834,803 5,939,687 Accrued expenses 4,088,649 6,700,564 Accrued interest 420,959 19,171 Deferred liabilities - current 346,056 737,503 Total current liabilities 121,177,621 105,627,340 Long-term liabilities Long-term debt, net of current maturities 46,000,000 — Long-term operating lease liabilities 30,818,448 22,827,885 Deferred liabilities 115,593 54,094 Total long-term liabi

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View this 10-Q filing on SEC EDGAR