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Private company

SOUTH 8 ENERGY, LLC

SOUTH 8 ENERGY, LLC is an American industrial organic chemicals company based in Richardton.1

Last updated Oct 21, 2026.

Overview

$149.9MRevenue, fiscal 20242
-$1.2MNet income, fiscal 20242
  • IndustryIndustrial Organic Chemicals1
  • HeadquartersRichardton, North Dakota1
  • Incorporated inND3
  • Business addressPo Box 11, 3682 Hwy 8 South, Richardton, Nd 586523
  • Filer categoryNon-accelerated filer3

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Red Trail Energy, LLC was formed as a North Dakota limited liability company in July of 2003, for the purpose of constructing, owning, and operating a fuel-grade ethanol plant near Richardton, North Dakota in western North Dakota. References to "we," "us," "our" and the "Company" refer to Red Trail Energy, LLC. We began production in January 2007.4 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 2024

2.8%Gross margin2
-0.5%Operating margin2
-0.8%Net margin2
-24.9%Revenue growth, 20242
-1.5%Return on equity2
0.27×Debt to equity2

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue97¢$145.6M
  • Other costs3¢$4.3M

Out of $149.9M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Dividends paid100¢$6.1M

Out of $4.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue567892$149.9M in 2024+37% since 2017
0$100.0M$200.0M$300.0M2017: $109.6M$109.6M20172018: $103.6M$103.6M2018−6%2019: $103.7M$103.7M2019+0%2020: $94.2M$94.2M2020−9%2021: $119.1M$119.1M2021+26%2022: $217.1M$217.1M2022+82%2023: $199.6M$199.6M2023−8%2024: $149.9M$149.9M2024−25%
Gross profit567892$4.3M in 2024−44% since 2017
-$10.0M0$10.0M$20.0M$30.0M2017: $7.5M$7.5M20172018: -$3.1M-$3.1M20182019: -$992.7K-$992.7K2019−68%2020: $4.0M$4.0M20202021: $15.0M$15.0M2021+270%2022: $26.3M$26.3M2022+76%2023: $12.1M$12.1M2023−54%2024: $4.3M$4.3M2024−65%
Operating income567892-$817.0K in 2024
-$10.0M0$10.0M$20.0M$30.0M2017: $5.2M$5.2M20172018: -$5.7M-$5.7M20182019: -$4.1M-$4.1M2019−27%2020: -$288.7K-$288.7K2020−93%2021: $11.7M$11.7M20212022: $22.5M$22.5M2022+92%2023: $6.2M$6.2M2023−72%2024: -$817.0K-$817.0K2024
Net income567892-$1.2M in 2024
-$10.0M0$10.0M$20.0M$30.0M2017: $8.4M$8.4M20172018: -$5.1M-$5.1M20182019: -$3.7M-$3.7M2019−27%2020: $6.6K$6.6K20202021: $12.6M$12.6M2021+191547%2022: $29.5M$29.5M2022+134%2023: $5.6M$5.6M2023−81%2024: -$1.2M-$1.2M2024
Fiscal year20172018201920202021202220232024
Revenue$109.6M5$103.6M6$103.7M7$94.2M8$119.1M9$217.1M2$199.6M2$149.9M2
Cost of revenue$102.1M5$106.7M6$104.7M7$90.1M8$104.1M9$190.8M2$187.6M2$145.6M2
Gross profit$7.5M5-$3.1M6-$992.7K7$4.0M8$15.0M9$26.3M2$12.1M2$4.3M2
Operating income$5.2M5-$5.7M6-$4.1M7-$288.7K8$11.7M9$22.5M2$6.2M2-$817.0K2
Interest$13.0K5$486$127$9.5K8$50.7K9$23.3K9$1.1M9
Net income$8.4M5-$5.1M6-$3.7M7$6.6K8$12.6M9$29.5M2$5.6M2-$1.2M2
Earnings per share$0.205-$0.136-$0.097$0.008$0.319$0.732$0.142-$0.032
Earnings per share (diluted)$0.205-$0.136-$0.097$0.008$0.319$0.732$0.142-$0.032
Shares (weighted, basic)40.1M shares240.1M shares240.1M shares2
Shares (weighted, diluted)40.1M shares240.1M shares240.1M shares2

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What it owns

What SOUTH 8 ENERGY, 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$1.3M2 Sep 30, 2024$1.3M2 Sep 30, 20230%
Land and buildings$18.6M2 Sep 30, 2023
Buildings and improvements$15.3M2 Sep 30, 2024$15.3M2 Sep 30, 2023+0.1%
Machinery and equipment$124.5M2 Sep 30, 2024$122.4M2 Sep 30, 2023+1.7%
Construction in progress$2.8M2 Sep 30, 2024$2.0M2 Sep 30, 2023+38.9%
Property and equipment, before depreciation$162.5M2 Sep 30, 2024$159.6M2 Sep 30, 2023+1.8%
Accumulated depreciation$89.6M2 Sep 30, 2024$83.2M2 Sep 30, 2023+7.7%
Property and equipment, net$72.8M2 Sep 30, 2024$76.4M2 Sep 30, 2023−4.7%
Operating-lease assets (leased space)$1.7M2 Sep 30, 2024$2.1M2 Sep 30, 2023−17.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$3.4M2 Sep 30, 2024$11.6M2 Sep 30, 2023−70.8%
Stakes in other companies (equity method)$940.6K2 Sep 30, 2024$940.6K2 Sep 30, 20230%

Inventory

ItemLatestA year beforeChange
Inventory, total$9.9M2 Sep 30, 2024$9.1M2 Sep 30, 2023+8.9%
Raw materials$5.1M2 Sep 30, 2024$4.3M2 Sep 30, 2023+19.8%
Work in process$1.1M2 Sep 30, 2024$1.4M2 Sep 30, 2023−26.3%
Finished goods$1.3M2 Sep 30, 2024$1.9M2 Sep 30, 2023−34.7%

Properties, in its own words

Our ethanol plant is located just east of the city limits of Richardton, North Dakota, and just north and east of the entrance/exit ramps to Interstate I-94. The plant complex is situated inside a footprint of approximately 25 acres of land which is part of an approximately 135 acre parcel. We acquired ownership of the land in 2004 and 2005. Included in the immediate campus area of the plant are perimeter roads, buildings, tanks, and equipment. An administrative building and parking area are located approximately 400 feet from the plant complex. During 2008, we purchased an additional 10 acre parcel of land that is adjacent to our current property. Our rail unloading facility and storage site was built on this property. During our 2012 fiscal year, we purchased an additional approximately 110 acres of land that is adjacent to our current property. During our 2017 fiscal year, we purchased approximately 338 acres of land which we use as part of our rail yard allowing us to ship larger trains.

The site also contains improvements such as rail tracks and a rail spur, landscaping, drainage systems and paved access roads. The ethanol plant was placed in service in January 2007, is in excellent condition and is capable of functioning in excess of its 50 million gallon name-plate production capacity.

The rest of Item 2

During our 2024 fiscal year, all of our tangible and intangible property, real and personal, served as the collateral for our senior credit facility with Cornerstone Bank. Our senior credit facility is discussed in more detail under "ITEM 7. Management's Discussion and Analysis - Capital Resources."

Item 2 of the 10-K filed Jan 15, 2025.4

Leadership

Who has led SOUTH 8 ENERGY, LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mick J. Miller2009
  2. Calvin Diehl2010
  3. Gerald Bachmeier2010–2018

President

  1. Ambrose Hoff2006–2007
  2. Mick J. Miller2006–2009

Chief financial officer

  1. Bonnie G. Eckelberg2006–2007
  2. Mark Klempel2007
  3. Jodi Marie Johnson2013
2010201520202025
Board members and other officers (21)

Former names

  • RED TRAIL ENERGY, LLCJun 6, 2006 to Feb 19, 20253

Timeline

  1. Jun 25, 20258-K Change to shareholders' rights; Shareholder vote41
  2. May 29, 20258-K Entered a material agreement42
  3. May 13, 20258-K Entered a material agreement43
  4. Mar 18, 20258-K Other events44
  5. Feb 27, 20258-K Bylaws or fiscal year changed45
  6. Feb 3, 20258-K Ended a material agreement; Completed an acquisition or sale; Executive or director change46
  7. Dec 20, 20248-K Results of operations; Other events47
  8. Dec 10, 20248-K Shareholder vote48
  9. Sep 16, 20248-K Entered a material agreement; Other events49
  10. Apr 18, 20248-K Entered a material agreement50
  11. Apr 8, 20248-K Shareholder vote51
  12. Mar 14, 20248-K Other events52
  13. Feb 18, 2010New chief executive Gerald Bachmeier becomes CEO16
  14. Jan 8, 2010New chief executive Calvin Diehl becomes CEO15
  15. Feb 2, 2009New chief executive Mick J. Miller becomes CEO17

Calendar

When it reported results

  1. Dec 20, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

55 filings to the SEC since October 2021: 5 annual reports, 11 quarterly reports, 20 major events, 19 other. The latest 20:

  1. Jun 25, 202515-12G EDGAR
  2. Jun 25, 2025SC 13E3/A EDGAR
  3. Jun 25, 20258-K EDGAR
  4. Jun 5, 2025DEFA14A EDGAR
  5. May 29, 20258-K EDGAR
  6. May 15, 202510-Q EDGAR
  7. May 13, 20258-K EDGAR
  8. May 5, 2025DEFA14A EDGAR
  9. May 2, 2025SC 13E3/A EDGAR
  10. May 2, 2025DEF 14A EDGAR
  11. Apr 29, 2025CORRESP EDGAR
  12. Apr 10, 2025UPLOAD EDGAR
  13. Mar 18, 20258-K EDGAR
  14. Mar 18, 2025SC 13E3 EDGAR
  15. Mar 18, 2025PRE 14A EDGAR
  16. Feb 27, 20258-K EDGAR
  17. Feb 19, 202510-Q EDGAR
  18. Feb 14, 2025NT 10-Q EDGAR
  19. Feb 3, 20258-K EDGAR
  20. Jan 28, 202510-K/A EDGAR

The 55 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.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Chief Executive Officer- (Jodi Johnson)$214.5K$232.4K53
2024Grain Merchandizer- Ryan Wiege$145.7K$157.2K53
2024Chief Financial Officer- Jodi Entze$89.7K$95.2K53
2023Gerald Bachmeier$138.6K$269.4K53
2023Ryan Wiege$125.5K$140.5K53
2023Jodi Johnson44$80.4K53
2023Joni Entze37$32.4K53
2022Gerald Bachmeier$240.0K$315.4K53
2022Jodi Johnson44$149.4K$175.7K53
2022Ryan Wiege$119.7K$131.0K53

SEC filer profile

How SOUTH 8 ENERGY, LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSOUTH 8 ENERGY, LLC1
  • CIK0001359687
  • Employer ID (EIN)76-07423114
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inNorth Dakota4
  • Fiscal year endsSeptember 301
  • Industry code (SIC)2860 Industrial Organic Chemicals1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business addressPo Box 11, 3682 Hwy 8 South, Richardton, ND 586521
  • Phone701-974-33081
  • Shares outstanding40,148,160 as of May 14, 202511
  • Public float$35.0M as of Sep 30, 20244
  • AuditorEide Bailly LLP, Denver, Colorado PCAOB ID 2864
  • On EDGAR sinceJun 6, 20061
  • Filings315 in all: 8-K (97), 10-Q (57), 3 (26), 10-K (18), DEF 14A (18), 5 (15), 4 (9), UPLOAD (8)1
    All 31 form types

    DEFA14A (7), PRE 14A (6), SC 13E3/A (6), CORRESP (5), CT ORDER (5), NT 10-Q (5), 8-K/A (4), SC 13G (4), 10-12G/A (3), 10-K/A (3), NT 10-K (3), 10-Q/A (2), PRER14A (2), SC 13E3 (2), SC 13G/A (2), 10-12G (1), 10-KT (1), 10-KT/A (1), 15-12G (1), 4/A (1), ARS (1), DEFM14A (1), PREM14A (1)

  • Latest filingsAnnual report (10-K) Jan 15, 2025
    Quarterly report (10-Q) May 15, 2025
    Proxy statement (DEF 14A) May 2, 2025
    Latest 8-K (8-K) Jun 25, 2025

Risk factors and legal proceedings

The risks SOUTH 8 ENERGY, LLC names in Item 1A of its 10-K filed Jan 15, 2025: 37 risks under these headings, as written.4

  • Risks Relating to Our Business
  • Increases in the price of corn or natural gas would reduce our profitability.
  • Our business is not diversified which could negatively impact our ability to operate profitably.
  • We engage in hedging transactions which involve risks that could harm our business.
  • We may violate the terms of our credit agreements and financial covenants which could result in our lender demanding immediate repayment of our loans.
  • Changes and advances in ethanol production technology could require us to incur costs to update the ethanol plant or could otherwise hinder our ability to compete in the ethanol industry or operate profitably.
  • We depend on our management and key employees, and the loss of these relationships could negatively impact our ability to operate profitably.
  • Failures of our information technology infrastructure could have a material adverse effect on operations.
  • A cyber attack or other information security breach could have a material adverse effect on our operations and result in financial losses.
  • Adverse weather conditions, including as a result of climate change, may adversely affect the availability, quality, and price of agricultural commodities and agricultural commodity products, as well as our operations and operating results.
  • Investor sentiment towards climate change, fossil fuels, and other ESG matters could adversely affect our business, cost of capital, and the price of our stock and other securities.
  • The invasion of Ukraine by Russia and resulting sanctions by the United States, European Union and other countries have contributed to inflation, market disruptions and increased volatility in commodity prices in the United States and a slowdown in global economic growth.
The other 26 risks
  • Risks Related to the Ethanol Industry
  • The ethanol industry is an industry that is changing rapidly which can result in unexpected developments that could negatively impact our operations and the value of our units.
  • Excess ethanol supply in the market could put negative pressure on the price of ethanol which could lead to tight operating margins and may impact our ability to operate profitably.
  • Demand for ethanol may not continue to grow unless ethanol can be blended into gasoline in higher percentage blends for standard vehicles.
  • A reduction in ethanol exports to Brazil due to the imposition by the Brazilian government of a tariff on U.S. ethanol has and could continue to have a negative impact on ethanol prices.
  • Chinese ethanol tariffs have and could continue to have a negative impact on ethanol prices.
  • We operate in an intensely competitive industry and compete with larger, better financed entities which could impact our ability to operate profitably.
  • Technology advances in the commercialization of cellulosic ethanol may decrease demand for corn-based ethanol which may negatively affect our profitability.
  • Risks Related to Regulation and Governmental Action
  • Government incentives for ethanol production may be eliminated in the future, which could hinder our ability to operate at a profit.
  • Government policies and regulations, particularly those affecting the agricultural sector and related industries, could adversely affect our operations and profitability.
  • New, stricter environmental laws and other industry-related regulations or environmental litigation could significantly impact our operations and/or increase our costs, which could adversely affect our results of operations and financial condition.
  • Risks Related to the Asset Sale
  • The proposed Asset Sale is subject to a number of conditions beyond our control. Failure to complete the Asset Sale could materially and adversely affect our future business, results of operations and financial condition.
  • The APA contains provisions that prohibit competing offers.
  • Our executive officers may have interests in the Asset Sale that may be different from, or in addition to, the interests of our members generally.
  • We will incur significant expenses in connection with the Asset Sale, whether or not it is consummated.
  • We cannot be sure if or when the Asset Sale will be completed.
  • The failure to consummate the Asset Sale by the prescribed deadline will likely result in the Asset Sale being abandoned.
  • We may not receive all third-party and regulatory consents required in order for us to consummate the Asset Sale.
  • The Company did not receive a fairness opinion in connection with the Asset Sale.
  • We may be subject to litigation related to the Asset Sale, which is expensive and could divert our attention.
  • If we close on the Asset Sale, we cannot determine at this time the timing, amount or nature of any distributions to our members because there are many factors, some of which are outside of our control, that could affect our ability to make such distributions.
  • Following the closing of the Asset Sale, we will continue to incur significant expenses and administrative burdens as a public company despite our revenue being significantly lower, which could have an adverse effect on our business, financial condition and results of operations.
  • The amount of net proceeds that we receive from the Asset Sale is subject to decrease.
  • Even if the Asset Sale is completed, we cannot provide any assurances that we will realize the benefits we currently anticipate from the Asset Sale.
  • The tax treatment of the Asset Sale and any subsequent cash distribution should be relatively consistent from member to member as to the character of any gain or income but may vary, and the discussions in this proxy statement regarding such tax treatment are general in nature. You should consult your own tax advisor instead of relying on the discussions of tax treatment in this proxy statement for tax advice.
  • Members should anticipate recognizing taxable capital gain and/or ordinary income for federal income tax purposes from the Asset Sale, followed by a non-taxable cash distribution.
  • Members may not be able to recognize a loss for federal income tax purposes until they receive a final distribution from us.

Legal proceedings

From time to time in the ordinary course of business, we may be named as a defendant in legal proceedings related to various issues, including without limitation, workers' compensation claims, tort claims, or contractual disputes. We are not currently involved in any material legal proceedings.

The opening of Item 3, Legal Proceedings.4

Sources

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