SOUTH DAKOTA SOYBEAN PROCESSORS reported full-year 2025 revenues of $503.8 million and net income of $12.94 million driven by soybean processing operations and startup contributions from a new plant. The company posted gross profit of $24.70 million and operating profit of $17.45 million for the year. SDSP noted a sizable tax loss allocation to members from bonus depreciation at its High Plains Processing subsidiary related to 2025 capital investments.
Financial Highlights
- Revenues: $503,815,120 for the year ended December 31, 2025.
- Gross profit: $24,698,076 (gross margin reported but percentage not provided).
- Operating profit: $17,453,510 for 2025.
- Net income: $12,942,560 for 2025; net income attributable to the company: $17,735,646.
- Basic and diluted earnings per capital unit: $0.58 (weighted average units outstanding: 30,411,500).
Business Highlights
- High Plains Processing brought a newly constructed facility online in phases in October–November 2025, commencing crushing in October and refining in November.
- Startup activities at High Plains Processing are focused on stabilizing run rates, addressing mechanical and operational challenges, validating performance, and benchmarking against existing facilities.
- The subsidiary elected bonus depreciation on qualifying 2025 capital investments, producing a substantial tax loss allocated to its members and reflected on members' Schedule K-1s as a timing difference.
- Demand drivers: the company highlights strong global protein demand supporting soybean meal and potential improvement in soybean oil values tied to rumored increases in Renewable Volume Obligations for 2026–2027.
- Non-GMO soybean program continuation: SDSP pays a $2.50/bushel premium to certified growers and cites growing demand from key customers and export channels, including feed markets requiring Non-GMO inputs.
Original SEC Filing:
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