Quarterly ResultMay 14, 2026, 03:41 PM
South Dakota Soybean Processors Q1 Net Loss $4.3M; Revenue +91.3%
AI Summary
South Dakota Soybean Processors reported a net loss of $4.3 million for Q1 2026, a significant decrease from a net income of $4.4 million in Q1 2025. This was primarily due to temporary regulatory delays impacting the renewable fuels market, non-cash mark-to-market losses, and startup inefficiencies at its new Mitchell facility. Despite the loss, revenue surged by 91.3% to $225.5 million, driven by the doubling of processing capacity from the Mitchell facility. The company anticipates a strong recovery in financial performance for the remainder of 2026, expecting increased demand for soybean oil and meal.
Key Highlights
- Reported Q1 2026 net loss of $4.3 million, down from $4.4 million net income in Q1 2025.
- Revenue increased 91.3% to $225.5 million in Q1 2026 from $117.9 million in Q1 2025.
- Gross profit decreased by $11.4 million (193.7%) to a loss of $5.5 million in Q1 2026.
- Soybean processing volumes increased 91.2% due to the new Mitchell facility.
- Interest expense rose 434.0% to $6.1 million in Q1 2026 due to increased borrowings.
- Declared a cash distribution of $8.5 million ($0.28 per capital unit) on February 10, 2026.
- Seasonal loan facility increased from $30 million to $45 million on May 11, 2026.
- Net cash used in operating activities increased to $82.8 million from $39.9 million.