| 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
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
94,155 |
|
|
$ |
100,687 |
|
|
$ |
201,390 |
|
|
$ |
209,035 |
|
| Essential ingredient sales |
|
|
39,565 |
|
|
|
39,371 |
|
|
|
84,183 |
|
|
|
86,080 |
|
| Intersegment sales |
|
|
183 |
|
|
|
286 |
|
|
|
481 |
|
|
|
606 |
|
| Total Pekin Campus sales |
|
|
133,903 |
|
|
|
140,344 |
|
|
|
286,054 |
|
|
|
295,721 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales, gross |
|
$ |
58,106 |
|
|
$ |
70,157 |
|
|
$ |
107,101 |
|
|
$ |
124,587 |
|
| Alcohol sales, net |
|
|
80 |
|
|
|
64 |
|
|
|
142 |
|
|
|
98 |
|
| Intersegment sales |
|
|
2,334 |
|
|
|
2,388 |
|
|
|
4,840 |
|
|
|
5,140 |
|
| Total marketing and distribution sales |
|
|
60,520 |
|
|
|
72,609 |
|
|
|
112,083 |
|
|
|
129,825 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Western production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
16,604 |
|
|
$ |
17,456 |
|
|
$ |
32,798 |
|
|
$ |
37,690 |
|
| Essential ingredient sales |
|
|
8,250 |
|
|
|
5,950 |
|
|
|
16,058 |
|
|
|
13,776 |
|
| Intersegment sales |
|
|
505 |
|
|
|
— |
|
|
|
769 |
|
|
|
(130 |
) |
| Total Western production sales |
|
|
25,359 |
|
|
|
23,406 |
|
|
|
49,625 |
|
|
|
51,336 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate and other |
|
|
1,676 |
|
|
|
2,783 |
|
|
|
3,304 |
|
|
|
5,831 |
|
| Intersegment eliminations |
|
|
(3,022 |
) |
|
|
(2,674 |
) |
|
|
(6,090 |
) |
|
|
(5,616 |
) |
| Net sales as reported |
|
$ |
218,436 |
|
|
$ |
236,468 |
|
|
$ |
444,976 |
|
|
$ |
477,097 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
139,748 |
|
|
$ |
130,200 |
|
|
$ |
294,974 |
|
|
$ |
281,311 |
|
| Marketing and distribution |
|
|
56,518 |
|
|
|
69,437 |
|
|
|
104,167 |
|
|
|
123,123 |
|
| Western production |
|
|
23,501 |
|
|
|
27,167 |
|
|
|
49,024 |
|
|
|
63,683 |
|
| Corporate and other |
|
|
1,705 |
|
|
|
2,943 |
|
|
|
3,386 |
|
|
|
5,738 |
|
| Intersegment eliminations |
|
|
(1,099 |
) |
|
|
(832 |
) |
|
|
(2,831 |
) |
|
|
(1,911 |
) |
| Cost of goods sold as reported |
|
$ |
220,373 |
|
|
$ |
228,915 |
|
|
$ |
448,720 |
|
|
$ |
471,944 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
(5,845 |
) |
|
$ |
10,144 |
|
|
$ |
(8,920 |
) |
|
$ |
14,410 |
|
| Marketing and distribution |
|
|
4,002 |
|
|
|
3,172 |
|
|
|
7,916 |
|
|
|
6,702 |
|
| Western production |
|
|
1,858 |
|
|
|
(3,761 |
) |
|
|
601 |
|
|
|
(12,347 |
) |
| Corporate and other |
|
|
(29 |
) |
|
|
(160 |
) |
|
|
(82 |
) |
|
|
93 |
|
| Intersegment eliminations |
|
|
(1,923 |
) |
|
|
(1,842 |
) |
|
|
(3,259 |
) |
|
|
(3,705 |
) |
| Gross profit (loss) as reported |
|
$ |
(1,937 |
) |
|
$ |
7,553 |
|
|
$ |
(3,744 |
) |
|
$ |
5,153 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) before provision for
income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
(9,923 |
) |
|
$ |
5,971 |
|
|
$ |
(17,291 |
) |
|
$ |
6,087 |
|
| Marketing and distribution |
|
|
1,795 |
|
|
|
806 |
|
|
|
3,359 |
|
|
|
2,108 |
|
| Western production |
|
|
(1,453 |
) |
|
|
(5,977 |
) |
|
|
(5,356 |
) |
|
|
(16,954 |
) |
| Corporate and other |
|
|
(1,416 |
) |
|
|
(3,906 |
) |
|
|
(3,388 |
) |
|
|
(6,072 |
) |
| |
|
$ |
(10,997 |
) |
|
$ |
(3,106 |
) |
|
$ |
(22,676 |
) |
|
$ |
(14,831 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation
and amortization expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
5,348 |
|
|
$ |
5,369 |
|
|
$ |
10,804 |
|
|
$ |
10,404 |
|
| Western production |
|
|
843 |
|
|
|
478 |
|
|
|
1,483 |
|
|
|
943 |
|
| Corporate and other |
|
|
172 |
|
|
|
228 |
|
|
|
344 |
|
|
|
455 |
|
| |
|
$ |
6,363 |
|
|
$ |
6,075 |
|
|
$ |
12,631 |
|
|
$ |
11,802 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense, net of capitalized
interest: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
615 |
|
|
$ |
326 |
|
|
$ |
1,226 |
|
|
$ |
587 |
|
| Marketing and distribution |
|
|
81 |
|
|
|
98 |
|
|
|
163 |
|
|
|
193 |
|
| Western production |
|
|
1,430 |
|
|
|
598 |
|
|
|
2,789 |
|
|
|
1,229 |
|
| Corporate and other |
|
|
685 |
|
|
|
647 |
|
|
|
1,362 |
|
|
|
1,294 |
|
| |
|
$ |
2,811 |
|
|
$ |
1,669 |
|
|
$ |
5,540 |
|
|
$ |
3,303 |
|
|