---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-063170"
form_type: "8-K"
ticker: null
cik: "0001371451"
company_name: "HIGHWATER ETHANOL LLC"
filed_at: "2026-09-23T15:41:34+00:00"
generated_at: "2026-09-23T15:43:10.762914+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Highwater Ethanol posts Q3 FY2026 net income $10.8M; plans expansion to 85M gal/yr

## Summary
- Q3 FY2026 net income $10.8M ($5.7M operating + $5.2M other income incl. 45Z credits); nine-month net income ~$24.8M.
- 45Z tax credits: $5.0M in Q3, $11.7M YTD; 2025 credits sold ~$0.20/gal, 2026 expected ~$0.30/gal.
- Ethanol yield 3.07 gal/bushel maintained since Aug 2019; corn oil recovery up to 1.21 lbs/bushel adding ~$300K/month.
- Seeking MPCA permit for 85M gal/yr vs ~68.5M current; sixth fermenter and DEER project online July 2027.
- Group I Governors Eis, Garth, Moldan reelected to three-year terms; 2027 nominations due Oct 2, 2026.

## SEC filing metadata
- accession: 0001628280-26-063170
- form_type: 8-K
- cik: 0001371451
- company_name: HIGHWATER ETHANOL LLC
- filed_at: 2026-09-23T15:41:34+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1371451/000162828026063170/0001628280-26-063170-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1371451/000162828026063170/highwater-20260923.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-063170
- JSON: https://secwatch.observer/filing/0001628280-26-063170.json
- Plain text: https://secwatch.observer/filing/0001628280-26-063170.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.