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South Dakota Soybean Processors LLC Unit - Class A (SDSYA0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates a decrease in net income to $20.3 million from $70.4 million in the previous year, attributed to a reduction in demand for soybean oil and increased competition.
Revenue for the year was reported at $554.4 million, down from $703.1 million in 2023, primarily due to a decrease in the average sales price of soybean products.
Operating expenses decreased slightly to $6.1 million from $6.5 million, while interest expenses increased to $6.4 million from $2.8 million due to higher borrowing levels.
The company made significant investments in its new oilseed processing plant in Mitchell, South Dakota, contributing to a decrease in working capital to $24.5 million from $100.2 million.
The company anticipates spending approximately $248.0 million in capital purchases and improvements in 2025, primarily financed through its multiple advance loan and operating cash flows.
South Dakota Soybean Processors LLC continues to focus on its core business of processing soybeans into meal and oil, with its operations primarily located in South Dakota.
The company remains subject to various risks, including fluctuations in commodity prices, interest rates, and potential geopolitical events that could impact its business operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the South Dakota Soybean Processors LLC Unit - Class A annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.