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Private company

LAKE AREA CORN PROCESSORS LLC

American industrial organic chemicals company, incorporated in South Dakota1

In its 2024 annual report the company says: “We also sell distillers grains and corn oil, the principal co-products of the ethanol production process. We make distributions of the income received from Dakota Ethanol to our unit holders in proportion to the number of units held by each member.”3 It is headquartered in Wentworth, South Dakota.1

Last updated Oct 21, 2026.

Overview

  • IndustryIndustrial Organic Chemicals1
  • HeadquartersWentworth, South Dakota1
  • Incorporated inSD2
  • Business addressDakota Ethanol, Llc, 46269 Sd Highway 34, Wentworth, Sd 570752
  • Filer categoryNon-accelerated filer2

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Since September 4, 2001, we have been engaged in the production of ethanol and distillers grains. Fuel grade ethanol is our primary product accounting for the majority of our revenue. We also sell distillers grains and corn oil, the principal co-products of the ethanol production process.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

12.7%Gross margin4
10.7%Operating margin4
15.1%Net margin4
-0.8%Revenue growth, 20234
31.3%Return on equity4
0.15×Debt to equity4
$58.6MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue85¢$244.7M
  • Interest0¢$212.5K
  • Profit15¢$42.4M

Out of $280.4M in revenue.4

Where each dollar of operating cash went, fiscal 2023

  • Capital spending2¢$1.5M
  • Kept or used elsewhere98¢$58.6M

Out of $60.1M of cash from operations.4

Financial statements

Revenue56784$280.4M in 2023+231% since 2017
0$100.0M$200.0M$300.0M2017: $84.8M$84.8M20172018: $74.7M$74.7M2018−12%2019: $116.0M$116.0M2019+55%2020: $130.5M$130.5M2020+13%2021: $259.0M$259.0M2021+98%2022: $282.6M$282.6M2022+9%2023: $280.4M$280.4M2023−1%
Gross profit56784$35.7M in 2023+317% since 2017
0$20.0M$40.0M$60.0M2017: $8.6M$8.6M20172018: $6.1M$6.1M2018−29%2019: $1.3M$1.3M2019−79%2020: $6.0M$6.0M2020+364%2021: $51.7M$51.7M2021+758%2022: $26.9M$26.9M2022−48%2023: $35.7M$35.7M2023+33%
Operating income56784$29.9M in 2023+516% since 2017
-$20.0M0$20.0M$40.0M$60.0M2017: $4.9M$4.9M20172018: $2.2M$2.2M2018−54%2019: -$2.8M-$2.8M20192020: $1.6M$1.6M20202021: $46.3M$46.3M2021+2774%2022: $21.9M$21.9M2022−53%2023: $29.9M$29.9M2023+36%
Net income56784$42.4M in 2023+564% since 2017
-$20.0M0$20.0M$40.0M$60.0M2017: $6.4M$6.4M20172018: $2.7M$2.7M2018−57%2019: -$3.8M-$3.8M20192020: $1.1M$1.1M20202021: $57.1M$57.1M2021+5308%2022: $27.3M$27.3M2022−52%2023: $42.4M$42.4M2023+55%
Fiscal year2017201820192020202120222023
Revenue$84.8M5$74.7M6$116.0M7$130.5M8$259.0M4$282.6M4$280.4M4
Cost of revenue$76.3M5$68.6M6$114.7M7$124.5M8$207.3M4$255.7M4$244.7M4
Gross profit$8.6M5$6.1M6$1.3M7$6.0M8$51.7M4$26.9M4$35.7M4
Operating expenses$5.4M4$5.0M4$5.8M4
Operating income$4.9M5$2.2M6-$2.8M7$1.6M8$46.3M4$21.9M4$29.9M4
Interest$2.3K5$06$1.2M7$1.4M8$727.5K4$90.9K4$212.5K4
Net income$6.4M5$2.7M6-$3.8M7$1.1M8$57.1M4$27.3M4$42.4M4
Shares (weighted, basic)29.6M shares429.6M shares429.6M shares4
Shares (weighted, diluted)29.6M shares429.6M shares429.6M shares4

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What it owns

What LAKE AREA CORN PROCESSORS LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$874.5K4 Dec 31, 2023$874.5K4 Dec 31, 20220%
Buildings and improvements$9.3M4 Dec 31, 2023$9.3M4 Dec 31, 20220%
Machinery and equipment$108.1M4 Dec 31, 2023$108.1M4 Dec 31, 20220%
Construction in progress$890.9K4 Dec 31, 2023$13.4K4 Dec 31, 2022+6565.3%
Property and equipment, before depreciation$128.0M4 Dec 31, 2023$127.1M4 Dec 31, 2022+0.7%
Accumulated depreciation$69.1M4 Dec 31, 2023$63.6M4 Dec 31, 2022+8.7%
Property and equipment, net$58.8M4 Dec 31, 2023$63.5M4 Dec 31, 2022−7.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$36.8M4 Dec 31, 2023$27.0M4 Dec 31, 2022+36.2%
Stakes in other companies (equity method)$55.2M4 Dec 31, 2023$17.7M4 Dec 31, 2022+212.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$10.4M4 Dec 31, 2023$10.4M4 Dec 31, 20220%

Inventory

ItemLatestA year beforeChange
Inventory, total$14.7M4 Dec 31, 2023$25.8M4 Dec 31, 2022−43.1%
Raw materials$8.6M4 Dec 31, 2023$12.4M4 Dec 31, 2022−31.0%
Work in process$1.3M4 Dec 31, 2023$1.4M4 Dec 31, 2022−1.2%
Finished goods$2.9M4 Dec 31, 2023$10.1M4 Dec 31, 2022−71.6%

Leadership

Who has led LAKE AREA CORN PROCESSORS LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Alan Mundt Scott2007–2022

Chief financial officer

  1. Gene Buchholtz Robbi2007
2010201520202025
Board members and other officers (9)

Former names

  • LAKE AREA ETHANOL LLCOct 12, 2001 to Aug 22, 20022
  • LAKE AREA ETHANOL INCAug 2, 2001 to Aug 2, 20012

Timeline

  1. Oct 22, 20248-K Change to shareholders' rights; Shareholder vote25
  2. Jun 28, 20248-K Regulation FD disclosure26
  3. Jun 28, 20248-K Regulation FD disclosure27
  4. Apr 19, 20248-K Shareholder vote; Other events28
  5. Oct 4, 20238-K Entered a material agreement29
  6. Apr 24, 20238-K Shareholder vote30
  7. Sep 21, 20228-K Regulation FD disclosure31
  8. Sep 12, 20228-K Other events32
  9. Jul 18, 20228-K Other events33
  10. Jun 27, 20228-K Entered a material agreement34
  11. Apr 13, 20228-K Shareholder vote35
  12. Feb 2, 20228-K Regulation FD disclosure36
  13. Aug 17, 2007New chief executive Alan Mundt Scott becomes CEO14

Filings

69 filings to the SEC since October 2021: 4 annual reports, 9 quarterly reports, 13 major events, 23 insider forms, 20 other. The latest 20:

  1. Jan 3, 20254 EDGAR
  2. Oct 23, 202415-12G EDGAR
  3. Oct 22, 2024SC 13E3/A EDGAR
  4. Oct 22, 2024SC 13E3/A EDGAR
  5. Oct 22, 20248-K EDGAR
  6. Oct 9, 2024DEFA14A EDGAR
  7. Oct 2, 20244 EDGAR
  8. Oct 2, 2024DEFA14A EDGAR
  9. Sep 27, 2024DEFA14A EDGAR
  10. Sep 24, 2024DEFA14A EDGAR
  11. Sep 10, 2024DEFA14A EDGAR
  12. Sep 10, 2024DEFA14A EDGAR
  13. Sep 4, 2024DEFA14A EDGAR
  14. Aug 28, 2024DEFA14A DEF 14A EDGAR
  15. Aug 28, 2024SC 13E3/A EDGAR
  16. Aug 28, 2024DEF 14A EDGAR
  17. Aug 13, 202410-Q EDGAR
  18. Aug 9, 2024CORRESP EDGAR
  19. Aug 1, 2024UPLOAD EDGAR
  20. Jul 25, 2024SC 13E3 EDGAR

The 69 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 17 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 1, 2025Hansen Randall LloydSecretaryBuy10,000$5.42$54.2KForm 4
Jun 1, 2024Hansen Randall LloydSecretaryBuy20,000$6.00$120.0KForm 4
Apr 1, 2024Geraets PaulCommodity ManagerSale5,000$6.00$30.0KForm 4
Apr 1, 2024Hansen Randall LloydSecretaryBuy7,500$6.00$45.0KForm 4
Oct 1, 2023BROWN TODD MDirectorBuy5,000$4.25$21.2KForm 4
Jul 1, 2023BROWN TODD MDirectorBuy11,500$4.25$48.8KForm 4
Apr 1, 2023BROWN TODD MDirectorBuy19,000$3.92$74.5KForm 4
Oct 1, 2022Hansen Randall LloydSecretaryBuy20,000$3.61$72.2KForm 4
Oct 1, 2022Scott Alan MundtChief Executive OfficerBuy10,000$3.25$32.5KForm 4
Jul 1, 2022Scott Alan MundtChief Executive OfficerBuy3,500$3.21$11.2KForm 4
Jul 1, 2022BROWN TODD MDirectorBuy42,500$3.34$142.0KForm 4
Apr 1, 2022Thompson MartyDirectorBuy10,000$3.64$36.4KForm 4
Apr 1, 2022Scott Alan MundtChief Executive OfficerBuy6,500$2.70$17.5KForm 4
Apr 1, 2022BROWN TODD MDirectorBuy10,000$2.57$25.7KForm 4
Jan 1, 2022Backus WayneDirectorBuy17,000$2.18$37.0KForm 4
Jan 1, 2022Scott Alan MundtChief Executive OfficerBuy10,000$2.58$25.8KForm 4
Jan 1, 2022BROWN TODD MDirectorBuy13,500$2.17$29.3KForm 4
Oct 1, 2021BROWN TODD MDirectorBuy47,500$2.10$99.6KForm 4

From Forms 4 filed with the SEC.

SEC filer profile

How LAKE AREA CORN PROCESSORS LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLAKE AREA CORN PROCESSORS LLC1
  • CIK0001156174
  • Employer ID (EIN)46-04607901
  • Filer statusNon-accelerated filer1
  • Incorporated inSouth Dakota1
  • Fiscal year endsDecember 311
  • Industry code (SIC)2860 Industrial Organic Chemicals1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business addressDakota Ethanol, Llc, 46269 Sd Highway 34, Wentworth, SD 570751
  • Phone605-483-26761
  • Shares outstanding29,620,000 as of Aug 13, 202410
  • Public float$14.1M as of Dec 31, 20234
  • On EDGAR sinceAug 2, 20011
  • Filings299 in all: 8-K (77), 10-Q (62), 4 (59), 10-K (20), DEF 14C (17), DEFA14A (8), UPLOAD (7), 3 (6)1
    All 28 form types

    10QSB (5), S-4/A (5), CORRESP (4), CT ORDER (4), DEF 14A (4), SC 13E3/A (3), 10KSB (2), 425 (2), 8-K/A (2), DEFA14C (2), 10-K/A (1), 10-Q/A (1), 15-12G (1), 424B3 (1), 8-A12G (1), D (1), PRE 14A (1), PRE 14C (1), S-4 (1), SC 13E3 (1)

  • Latest filingsAnnual report (10-K) Mar 7, 2024
    Quarterly report (10-Q) Aug 13, 2024
    Proxy statement (DEF 14A) Aug 28, 2024
    Latest 8-K (8-K) Oct 22, 2024

Sources

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    SEC EDGAROther events
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