Lincolnway Energy releases first quarter fiscal year 2015 results

By Lincolnway Energy LLC | February 18, 2015

Lincolnway Energy LLC announced its unaudited financial results for the three months ended Dec. 31.

Lincolnway reported net income of $1.7 million, or $41.00 per unit, for the three months ended Dec. 31, compared to a net loss of $300,000, or $6.39 per unit, for the three months ended Dec. 31, 2013.

Gross profit for the three months ended Dec. 31 was $2.6 million, compared to a gross profit of $600,000 for the three months ended Dec. 31, 2013.

EBITDA, which is defined as earnings before interest, income taxes, depreciation, and amortization, was $3.7 million for the three months ended Dec. 31, compared to $1.6 million for the three months year ended Dec. 31, 2013.

Eric Hakmiller, president and CEO of Lincolnway, stated, "We are very happy to post a solid result for the first quarter of 2015. This was the first quarter where we operated the new natural gas boiler and we were very satisfied with the impact it made on our earnings.  The fiscal year 2015 is looking like a more challenging year in terms of margins and so our success will be driven by these kinds of efficiency projects."