Golden Growers Cooperative filed its Form 10-Q for the quarterly period ended September 30, 2026, reporting net income of $1,309 thousand and earnings of $0.08 per membership unit for the third quarter.

Key Highlights

  • Q3 net income: $1,309 thousand, compared with $1,406 thousand in the third quarter of 2025, according to the filing.
  • Nine-month net income: $4,207 thousand for the nine months ended September 30, 2026, versus $4,492 thousand for the same period in 2025.
  • Earnings per unit: Basic and fully diluted EPS was $0.08 for Q3 2026 and $0.27 for the nine months ended September 30, 2026.
  • Units outstanding: 15,490,480 membership units issued and outstanding as of September 30, 2026, unchanged from December 31, 2025.
  • Total assets: $17,182 thousand as of September 30, 2026, down from $20,283 thousand at December 31, 2025.
  • Member distributions: $3,562 thousand in distributions were paid to members during Q3 2026, with $7,126 thousand paid in total over the nine-month period.
  • ProGold LLC stake: The Cooperative and Cargill each hold a 50% interest in ProGold LLC, which reported net income of $9,347 thousand for the nine months ended September 30, 2026.

Golden Growers Cooperative Financial Results for the Quarter Ended September 30, 2026

According to the filing, Golden Growers Cooperative reported corn revenue of $15,366 thousand for the three months ended September 30, 2026, against corn expense of $15,380 thousand, resulting in a net loss on corn operations of $14 thousand for the quarter. Net income from ProGold LLC of $1,443 thousand and general and administrative expenses of $135 thousand contributed to net income from operations of $1,294 thousand for the quarter. Other income of $15 thousand brought net income before income tax and net income to $1,309 thousand.

For the nine months ended September 30, 2026, the cooperative disclosed corn revenue of $48,131 thousand and corn expense of $48,177 thousand. Net income from ProGold LLC for the nine-month period was $4,674 thousand, while general and administrative expenses totaled $511 thousand. The filing noted that the Cooperative contracts with Cargill, Incorporated for corn procurement and other agency services for an annual fee of $60,000, paid in four quarterly installments. The Facility Lease between Cargill and ProGold LLC, as amended, was extended through December 31, 2026.

The condensed balance sheet as of September 30, 2026, showed total members' equity of $13,607 thousand, compared with $20,095 thousand at December 31, 2025, reflecting ongoing distributions to members. The investment in ProGold LLC was carried at $12,834 thousand as of September 30, 2026, down from $14,124 thousand at year-end 2025. Accounts payable rose to $3,575 thousand from $188 thousand at December 31, 2025. Cash and cash equivalents stood at $1,963 thousand at the end of the period, up from $1,197 thousand at December 31, 2025. The filing noted that these results "are not necessarily indicative of the results for the entire fiscal year ending December 31, 2026."

What Was Disclosed

Golden Growers Cooperative disclosed its unaudited financial statements for the three and nine months ended September 30, 2026, covering income, balance sheet, cash flows, changes in members' equity, and details of its 50% ownership interest in ProGold LLC alongside Cargill.