Lincolnway Energy releases first quarter financial results

By Lincolnway Energy LLC | May 18, 2015

Lincolnway Energy LLC has announced its unaudited financial results for the three months ended March 31, 2015.

Lincolnway reported a net loss of $255,856, or $6.08 per unit, for the three months ended March 31, 2015, compared to net income of $4.3 million, or $101.65 per unit, for the three months ended March 31, 2014.

Gross profit for the three months ended March 31, 2015 was $500,958, compared to a gross profit of $5.1 million for the three months ended March 31, 2014.

EBITDA, which is defined as earnings before interest, income taxes, depreciation, and amortization, was $1.8 million for the three months ended March 31, 2015, compared to $6.1 million for the three months year ended March 31, 2014.

Eric Hakmiller, president and CEO of Lincolnway, stated, “Ethanol pricing was very difficult this quarter as the industry operated at high production during a period of the year that is traditionally the low demand for fuel. We were very pleased to see the impact of the investments we made into the plant in 2014 on the cost structure of the plant. We were able to capture the low natural gas costs with the new natural gas boiler and were able to produce a record volume of ethanol. The new operating environment at Lincolnway Energy will continue to benefit us in both weak and strong margin environments going forward.”