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Cardinal Ethanol Llc  (CRDE)
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Cardinal Ethanol Llc's

Competitiveness


 

CRDE Sales vs. its Competitors Q2 2022



Comparing the results to its competitors, Cardinal Ethanol Llc reported Total Revenue increase in the 2 quarter 2022 by 13.63 % year on year.
The revenue growth was below Cardinal Ethanol Llc's competitors average revenue growth of 20.15 %, recorded in the same quarter.

List of CRDE Competitors

With net margin of 25.64 % company achieved higher profitability than its competitors.

More on CRDE Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Cardinal Ethanol Llc Net Income in the 2 quarter 2022 grew year on year by 341.19 %, faster than average growth of Cardinal Ethanol Llc's competitiors of 83.69 %

<<  More on CRDE Income Comparisons


Cardinal Ethanol Llc's Comment on Competitors and Industry Peers


We are in direct competition with numerous ethanol producers, many of whom have greater resources than we do. Following the significant growth during 2005 and 2006, the ethanol industry has grown at a much slower pace. As of October 6, 2016, the Renewable Fuels Association estimates that there are 214 ethanol production facilities in the United States with capacity to produce approximately 15.6 billion gallons of ethanol and three additional plants under expansion or construction with capacity to produce an additional 162 million gallons. However, the Renewable Fuels Association estimates that approximately 3% of the ethanol production capacity in the United States is idled.

Since ethanol is a commodity product, competition in the industry is predominantly based on price. We have also experienced increased competition from oil companies who have purchased ethanol production facilities. These oil companies are required to blend a certain amount of ethanol each year. Therefore, the oil companies may be able to operate their ethanol production facilities at times when it is unprofitable for us to operate. Larger ethanol producers may be able to realize economies of scale that we are unable to realize. This could put us at a competitive disadvantage to other ethanol producers. The ethanol industry is continuing to consolidate where a few larger ethanol producers are increasing their production capacities and are controlling a larger portion of the United States ethanol production. Further, some ethanol producers own multiple ethanol plants which may allow them to compete more effectively by providing them flexibility to run certain production facilities while they have other facilities shut down. This added flexibility may allow these ethanol producers to compete more effectively, especially during periods when operation margins are unfavorable in the ethanol industry.

The largest ethanol producers include Archer Daniels Midland, Flint Hill Resources LP, Green Plains Renewable Energy, POET Biorefining and Valero Renewable Fuels, each of which are capable of producing significantly more ethanol than we produce.

Ethanol plants in the Midwest produce the majority of distillers grains and primarily compete with other ethanol producers in the production and sales of distillers grains. Ethanol plants are expected to produce approximately 36 million metric tons of distillers grains in the 2015/2016 marketing year.

The primary consumers of distillers grains are dairy and beef cattle. In recent years, an increasing amount of distillers grains have been used in the swine and poultry markets. Numerous feeding trials show advantages in milk production, growth, rumen health, and palatability over other dairy cattle feeds. With the advancement of research into the feeding rations of poultry and swine, we expect these markets to expand and create additional demand for distillers grains; however, no assurance can be given that these markets will in fact expand, or if they do, that we will benefit from it. The market for distillers grains is generally confined to locations where freight costs allow it to be competitively priced against other feed ingredients. Distillers grains compete with three other feed formulations: corn gluten feed, dry brewers grain and mill feeds. The primary value of these products as animal feed is their protein content. Dry brewers grain and distillers grains have about the same protein content, and corn gluten feed and mill feeds have slightly lower protein contents.






  

Overall company Market Share Q2 2022

Despite revenue growth of 13.63 % in Overall company, Cardinal Ethanol Llc lost market share within this segment.




<<  More on CRDE Market Share.
 
*Market share is calculated based on total revenue.


CRDE's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Cardinal Ethanol Llc CRDE 73.02 513.00 89.00 49
Futurefuel Corp. FF 257 352.31 16.05 500
Aemetis Inc AMTX 218 211.95 -94.29 144
Gevo Inc. GEVO 464 0.52 -59.73 74
Granite Falls Energy Llc GFGY 0 379.24 47.93 0
Archer daniels midland Co ADM 46,377 94,364.00 3,634.00 38,100
Lake Area Corn Processors Llc LKCRU 0 286.02 4.13 39
Green Plains Inc. GPRE 1,850 3,342.94 -61.44 1,294
Alto Ingredients Inc. ALTO 275 1,361.36 52.24 0
Renewable Energy Group Inc REGI 3,109 3,640.30 187.07 703
Red Trail Energy Llc REGX 40 182.75 28.49 46
Rex American Resources Corporation REX 0 492.64 15.07 114
Bio en Holdings Corp. BENH 159 0.00 -0.04 1
Southwest Iowa Renewable Energy Llc SWIOU 0 374.67 56.87 61
SUBTOTAL 52,821.67 105,501.75 3,914.91 41,125
       
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