RestructuringMay 8, 2026, 03:27 PM
Golden Growers Cooperative Approves Liquidation; Q1 Net Income $1.42M
AI Summary
Golden Growers Cooperative's members approved a Plan of Liquidation and Dissolution in March 2025, with Cargill set to purchase the Cooperative's 50% interest in ProGold LLC after December 31, 2026. For the first quarter of 2026, the Cooperative reported a net income of $1.42 million, a decrease from $1.60 million in the same period last year. Earnings per membership unit also declined to $0.09 from $0.10, primarily due to lower corn prices and reduced income from ProGold LLC.
Key Highlights
- Members approved a Plan of Liquidation and Dissolution in March 2025.
- Cargill will purchase the Cooperative's 50% interest in ProGold LLC after December 31, 2026.
- Q1 2026 net income decreased to $1.42 million from $1.60 million in Q1 2025.
- Q1 2026 earnings per membership unit were $0.09, down from $0.10 in Q1 2025.
- Corn revenue for Q1 2026 was $17.90 million, an 11% decrease from $20.09 million in Q1 2025.
- Income from ProGold LLC decreased 9% to $1.63 million in Q1 2026.
- Working capital at March 31, 2026, was $4.13 million, down from $6.86 million at March 31, 2025.
- Distributions to members remained $3.56 million for Q1 2026 and Q1 2025.