| Reportable Segment |
The following tables set forth certain financial
data for the Company’s reportable segment for the years ended January 31, 2026, 2025 and 2024 (amounts in thousands):
| |
| |
Fiscal Year |
| |
| |
2025 | | |
2024 | | |
2023 | |
| |
Net sales and revenue | |
| | | |
| | | |
| | |
| |
Ethanol and by-products | |
$ | 1,658,393 | | |
$ | 1,664,052 | | |
$ | 2,213,035 | |
| |
Reconciling Item: Equity method ethanol investment | |
| (1,007,906 | ) | |
| (1,021,561 | ) | |
| (1,379,651 | ) |
| |
Total consolidated net sales and revenue | |
$ | 650,487 | | |
$ | 642,491 | | |
$ | 833,384 | |
| |
| |
| | | |
| | | |
| | |
| |
Cost of sales | |
| | | |
| | | |
| | |
| |
Ethanol and by-products: | |
| | | |
| | | |
| | |
| |
Cost of corn | |
$ | 1,057,816 | | |
$ | 1,094,364 | | |
$ | 1,542,265 | |
| |
Other cost of sales (1) | |
| 388,728 | | |
| 361,052 | | |
| 412,003 | |
| |
Reconciling Item: Equity method ethanol investment | |
| (889,763 | ) | |
| (904,402 | ) | |
| (1,219,102 | ) |
| |
Total cost of sales | |
$ | 556,781 | | |
$ | 551,014 | | |
$ | 735,166 | |
| |
| |
| | | |
| | | |
| | |
| |
Gross profit | |
| | | |
| | | |
| | |
| |
Ethanol and by-products | |
$ | 211,849 | | |
$ | 208,636 | | |
$ | 258,767 | |
| |
Reconciling Item: Equity method ethanol investment | |
| (118,143 | ) | |
| (117,159 | ) | |
| (160,549 | ) |
| |
Total consolidated gross profit | |
$ | 93,706 | | |
$ | 91,477 | | |
$ | 98,218 | |
| |
| |
| | | |
| | | |
| | |
| |
Depreciation and amortization expense | |
| | | |
| | | |
| | |
| |
Ethanol and by-products | |
$ | 46,374 | | |
$ | 49,071 | | |
$ | 56,207 | |
| |
Reconciling Item: Equity method ethanol investment | |
| (23,212 | ) | |
| (27,356 | ) | |
| (33,168 | ) |
| |
Total consolidated depreciation and amortization expense | |
$ | 23,162 | | |
$ | 21,715 | | |
$ | 23,039 | |
| |
| |
| | | |
| | | |
| | |
| |
Income before taxes | |
| | | |
| | | |
| | |
| |
Ethanol and by-products | |
$ | 229,056 | | |
$ | 201,650 | | |
$ | 253,600 | |
| |
Reconciling Item: Equity method ethanol investment | |
| (140,484 | ) | |
| (108,778 | ) | |
| (155,116 | ) |
| |
Total consolidated income before income taxes | |
| 88,572 | | |
| 92,872 | | |
| 98,484 | |
| |
Provision for income taxes | |
| 6,502 | | |
| (21,386 | ) | |
| (22,560 | ) |
| |
Total consolidated net income | |
$ | 95,074 | | |
$ | 71,486 | | |
$ | 75,924 | |
| | (1) | Expenses within “Other cost of sales” consists primarily of depreciation, other raw materials such as denaturant and chemicals, utilities, repair and maintenance and production labor. |
|