HEOL · As filed with the SEC

Highwater Ethanol income statement, by quarter

The statement as Highwater Ethanol presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

Condensed Unaudited Statements of Operations · USD, except per-share amounts

USD, except per-share amounts	Q3 FY26 3 months ended Jul 31, 2026	Q2 FY26 3 months ended Apr 30, 2026	Q1 FY26 3 months ended Jan 31, 2026	Q4 FY25^† 3 months ended Oct 31, 2025
Revenues	39,092,592	38,376,992	34,401,853	38,001,208^†
Cost of Goods Sold	31,623,371	31,904,706	30,878,792	32,360,858^†
Gross Profit	7,469,221	6,472,286	3,523,061	5,640,350^†
Operating Expenses	1,807,936	1,674,832	1,438,403	1,137,758^†
Operating Income	5,661,285	4,797,454	2,084,658	4,502,592^†
Other Income (Expense)
Interest income	162,439	105,338	139,755	108,876^†
Other income	13,032	16,383	80,516	131,964^†
Interest expense	(48,730)	(48,857)	(59,939)	(50,090)^†
Income from equity method investments	48,328	45,558	64,942	26,528^†
Tax credits	5,000,000	3,400,000	3,300,000	10,400,000^†
Total other income, net	5,175,069	3,518,422	3,525,274	10,617,278^†
Net Income	10,836,354	8,315,876	5,609,932	15,119,870^†
Weighted Average Units Outstanding, Basic (in shares)	4,749	4,751	4,752	—
Weighted Average Units Outstanding, Diluted (in shares)	4,749	4,751	4,752	—
Net Income Per Unit, Basic (in dollars per share)	2,281.82	1,750.34	1,180.54	—
Net Income Per Unit, Diluted (in dollars per share)	2,281.82	1,750.34	1,180.54	—
Distributions Declared Per Unit (in dollars per share)	0.00	0.00	1,400.00	—

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.