| Schedule of Set Forth Certain Financial Data for the Company’s Operating Segments |
The following tables set forth certain financial
data for the Company’s operating segments (in thousands):
| |
|
Three Months Ended
March 31, |
|
| Net Sales |
|
2025 |
|
|
2024 |
|
| Pekin Campus production, recorded as gross: |
|
|
|
|
|
|
| Alcohol sales |
|
$ |
107,234 |
|
|
$ |
108,350 |
|
| Essential ingredient sales |
|
|
44,618 |
|
|
|
46,709 |
|
| Intersegment sales |
|
|
297 |
|
|
|
321 |
|
| Total Pekin Campus sales |
|
|
152,149 |
|
|
|
155,380 |
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
| Alcohol sales, gross |
|
$ |
48,997 |
|
|
$ |
54,431 |
|
| Alcohol sales, net |
|
|
61 |
|
|
|
34 |
|
| Intersegment sales |
|
|
2,506 |
|
|
|
2,752 |
|
| Total marketing and distribution sales |
|
|
51,564 |
|
|
|
57,217 |
|
| Western production, recorded as gross: |
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
16,194 |
|
|
$ |
20,231 |
|
| Essential ingredient sales |
|
|
7,808 |
|
|
|
7,826 |
|
| Intersegment sales |
|
|
264 |
|
|
|
— |
|
| Total Western production sales |
|
|
24,266 |
|
|
|
28,057 |
|
| |
|
|
|
|
|
|
|
|
| Corporate and other |
|
|
1,628 |
|
|
|
3,048 |
|
| Intersegment eliminations |
|
|
(3,067 |
) |
|
|
(3,073 |
) |
| Net sales as reported |
|
$ |
226,540 |
|
|
$ |
240,629 |
|
| |
|
|
|
|
|
|
| Cost of goods sold: |
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
155,222 |
|
|
$ |
151,112 |
|
| Marketing and distribution |
|
|
47,650 |
|
|
|
53,685 |
|
| Western production |
|
|
25,524 |
|
|
|
36,517 |
|
| Corporate and other |
|
|
1,681 |
|
|
|
2,794 |
|
| Intersegment eliminations |
|
|
(1,730 |
) |
|
|
(1,079 |
) |
| Cost of goods sold as reported |
|
$ |
228,347 |
|
|
$ |
243,029 |
|
| |
|
|
|
|
|
|
|
|
Gross profit (loss): |
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
(3,073 |
) |
|
$ |
4,268 |
|
| Marketing and distribution |
|
|
3,914 |
|
|
|
3,532 |
|
| Western production |
|
|
(1,258 |
) |
|
|
(8,460 |
) |
| Corporate and other |
|
|
(53 |
) |
|
|
254 |
|
| Intersegment eliminations |
|
|
(1,337 |
) |
|
|
(1,994 |
) |
| Gross loss as reported |
|
$ |
(1,807 |
) |
|
$ |
(2,400 |
) |
| |
|
|
|
|
|
|
|
Gain (loss) before provision for income taxes: |
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
(7,364 |
) |
|
$ |
108 |
|
| Marketing and distribution |
|
|
1,563 |
|
|
|
1,305 |
|
| Western production |
|
|
(3,905 |
) |
|
|
(10,976 |
) |
| Corporate and other |
|
|
(1,973 |
) |
|
|
(2,162 |
) |
| |
|
$ |
(11,679 |
) |
|
$ |
(11,725 |
) |
| Depreciation and amortization expense: |
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
5,456 |
|
|
$ |
5,035 |
|
| Western production |
|
|
640 |
|
|
|
465 |
|
| Corporate and other |
|
|
170 |
|
|
|
228 |
|
| |
|
$ |
6,266 |
|
|
$ |
5,728 |
|
| Interest expense, net of capitalized interest: |
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
610 |
|
|
$ |
261 |
|
| Marketing and distribution |
|
|
83 |
|
|
|
96 |
|
| Western production |
|
|
1,359 |
|
|
|
630 |
|
| Corporate and other |
|
|
677 |
|
|
|
647 |
|
| |
|
$ |
2,729 |
|
|
$ |
1,634 |
|
|
| Schedule of Total Assets by Operating Segment |
The following table sets forth the Company’s
total assets by operating segment (in thousands):
| |
|
March 31,
2025 |
|
|
December 31,
2024 |
|
| Total assets: |
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
216,152 |
|
|
$ |
223,934 |
|
| Marketing and distribution |
|
|
118,130 |
|
|
|
102,895 |
|
| Western production |
|
|
46,470 |
|
|
|
44,992 |
|
| Corporate and other |
|
|
21,457 |
|
|
|
29,617 |
|
| |
|
$ |
402,209 |
|
|
$ |
401,438 |
|
|