Golden Growers Cooperative reported its financial results for the six months ending June 30, 2025, revealing a net income of $3.1 million, a slight increase from $3.0 million in the same period of 2024. Revenue from corn operations reached $36.3 million, up 7% year-over-year, driven by an increase in the price per bushel sold. The cooperative's expenses mirrored this trend, totaling $36.3 million, reflecting a similar 7% increase due to higher corn purchase prices. The cooperative's net income from its investment in ProGold LLC also saw a rise, totaling $3.4 million for the first half of 2025 compared to $3.1 million in 2024.
The cooperative's balance sheet showed a decline in total assets, which decreased to $20.7 million from $24.9 million at the end of 2024. This reduction was primarily attributed to a decrease in cash and cash equivalents, which fell to $176,000 from $1.3 million. Members' equity also decreased to $20.7 million from $24.7 million, reflecting increased distributions to members totaling $7.1 million in the first half of 2025, compared to $5.3 million in the same period last year.
Operationally, Golden Growers Cooperative maintained its delivery commitments, with members delivering approximately 8.6 million bushels of corn in the first half of 2025, compared to 8.3 million bushels in 2024. The cooperative's membership remains stable at 1,452 members, with 15,490,480 membership units issued and outstanding. The cooperative's strategic focus includes a planned liquidation and dissolution, approved by members in March 2025, which involves selling its 50% interest in ProGold LLC to Cargill following the expiration of the facility lease in December 2026.
Looking ahead, management expressed confidence in the cooperative's liquidity, with working capital at $5.7 million as of June 30, 2025. The cooperative has a $2 million line of credit, which remains untapped, providing additional financial flexibility. Management anticipates that cash reserves and available credit will be sufficient to support operations for at least the next twelve months, despite the ongoing challenges posed by market fluctuations and operational costs. The cooperative's future performance will be closely tied to corn market conditions and the successful execution of its planned dissolution strategy.
About Golden Growers Cooperative
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