| 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
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
109,276 |
|
|
$ |
106,459 |
|
|
$ |
310,666 |
|
|
$ |
315,494 |
|
| Essential ingredient sales |
|
|
45,307 |
|
|
|
41,217 |
|
|
|
129,490 |
|
|
|
127,297 |
|
| Intersegment sales |
|
|
283 |
|
|
|
321 |
|
|
|
764 |
|
|
|
927 |
|
| Total Pekin Campus sales |
|
|
154,866 |
|
|
|
147,997 |
|
|
|
440,920 |
|
|
|
443,718 |
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales, gross |
|
$ |
58,595 |
|
|
$ |
54,531 |
|
|
$ |
165,695 |
|
|
$ |
179,118 |
|
| Alcohol sales, net |
|
|
74 |
|
|
|
71 |
|
|
|
215 |
|
|
|
169 |
|
| Intersegment sales |
|
|
2,497 |
|
|
|
2,862 |
|
|
|
7,338 |
|
|
|
8,002 |
|
| Total marketing and distribution sales |
|
|
61,166 |
|
|
|
57,464 |
|
|
|
173,248 |
|
|
|
187,289 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Western production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
17,419 |
|
|
$ |
36,395 |
|
|
$ |
50,218 |
|
|
$ |
74,084 |
|
| Essential ingredient sales |
|
|
8,017 |
|
|
|
10,408 |
|
|
|
24,076 |
|
|
|
24,184 |
|
| Intersegment sales |
|
|
513 |
|
|
|
8 |
|
|
|
1,281 |
|
|
|
(122 |
) |
| Total Western production sales |
|
|
25,949 |
|
|
|
46,811 |
|
|
|
75,575 |
|
|
|
98,146 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate and other |
|
|
2,298 |
|
|
|
2,733 |
|
|
|
5,602 |
|
|
|
8,565 |
|
| Intersegment eliminations |
|
|
(3,293 |
) |
|
|
(3,191 |
) |
|
|
(9,383 |
) |
|
|
(8,807 |
) |
| Net sales as reported |
|
$ |
240,986 |
|
|
$ |
251,814 |
|
|
$ |
685,962 |
|
|
$ |
728,911 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
135,942 |
|
|
$ |
141,823 |
|
|
$ |
431,669 |
|
|
$ |
423,135 |
|
| Marketing and distribution |
|
|
56,738 |
|
|
|
53,553 |
|
|
|
160,904 |
|
|
|
176,676 |
|
| Western production |
|
|
24,447 |
|
|
|
49,079 |
|
|
|
72,719 |
|
|
|
112,762 |
|
| Corporate and other |
|
|
2,063 |
|
|
|
2,952 |
|
|
|
5,449 |
|
|
|
8,690 |
|
| Intersegment eliminations |
|
|
(1,698 |
) |
|
|
(1,553 |
) |
|
|
(4,529 |
) |
|
|
(3,465 |
) |
| Cost of goods sold as reported |
|
$ |
217,492 |
|
|
$ |
245,854 |
|
|
$ |
666,212 |
|
|
$ |
717,798 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
18,924 |
|
|
$ |
6,174 |
|
|
$ |
9,251 |
|
|
$ |
20,583 |
|
| Marketing and distribution |
|
|
4,428 |
|
|
|
3,911 |
|
|
|
12,344 |
|
|
|
10,613 |
|
| Western production |
|
|
1,502 |
|
|
|
(2,268 |
) |
|
|
2,856 |
|
|
|
(14,616 |
) |
| Corporate and other |
|
|
235 |
|
|
|
(219 |
) |
|
|
153 |
|
|
|
(125 |
) |
| Intersegment eliminations |
|
|
(1,595 |
) |
|
|
(1,638 |
) |
|
|
(4,854 |
) |
|
|
(5,342 |
) |
| Gross profit as reported |
|
$ |
23,494 |
|
|
$ |
5,960 |
|
|
$ |
19,750 |
|
|
$ |
11,113 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) before provision for income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
14,694 |
|
|
$ |
1,997 |
|
|
$ |
(3,349 |
) |
|
$ |
8,083 |
|
| Marketing and distribution |
|
|
2,105 |
|
|
|
1,626 |
|
|
|
5,468 |
|
|
|
3,733 |
|
| Western production |
|
|
(1,151 |
) |
|
|
(4,119 |
) |
|
|
(5,754 |
) |
|
|
(21,075 |
) |
| Corporate and other |
|
|
(1,440 |
) |
|
|
(1,945 |
) |
|
|
(4,833 |
) |
|
|
(8,013 |
) |
| |
|
$ |
14,208 |
|
|
$ |
(2,441 |
) |
|
$ |
(8,468 |
) |
|
$ |
(17,272 |
) |
| Depreciation and amortization expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
5,348 |
|
|
$ |
5,328 |
|
|
$ |
16,153 |
|
|
$ |
15,733 |
|
| Western production |
|
|
738 |
|
|
|
502 |
|
|
|
2,221 |
|
|
|
1,445 |
|
| Corporate and other |
|
|
171 |
|
|
|
228 |
|
|
|
514 |
|
|
|
682 |
|
| |
|
$ |
6,257 |
|
|
$ |
6,058 |
|
|
$ |
18,888 |
|
|
$ |
17,860 |
|
| Interest expense, net of capitalized interest: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
623 |
|
|
$ |
496 |
|
|
$ |
1,849 |
|
|
$ |
1,083 |
|
| Marketing and distribution |
|
|
86 |
|
|
|
98 |
|
|
|
249 |
|
|
|
291 |
|
| Western production |
|
|
1,399 |
|
|
|
619 |
|
|
|
4,188 |
|
|
|
1,848 |
|
| Corporate and other |
|
|
692 |
|
|
|
654 |
|
|
|
2,054 |
|
|
|
1,948 |
|
| |
|
$ |
2,800 |
|
|
$ |
1,867 |
|
|
$ |
8,340 |
|
|
$ |
5,170 |
|
|