Business
REX American Resources Reports Fiscal First Quarter 2026 Net Income Per Share Attributable to REX Common Shareholders of $0.56
REX American Resources Reports Fiscal First Quarter 2026 Net Income Per Share Attributable to REX Common Shareholders of
About this update from Rex American Resources Corporation
[{"type":"text","content":"\nREX American Resources Corporation (“REX” or the “Company”) (NYSE: REX), a leading ethanol production company, today announced financial and operational results for the Company’s fiscal first quarter 2026.\n\n\nREX American Resources’ fiscal first quarter 2026 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated affiliates.\n\n\nFirst Quarter 2026 Results\nREX reported Q1 ’26 net sales and revenue of $156.5 million, compared to Q1 ‘25 net sales and revenue of $158.3 million, primarily reflecting lower ethanol pricing. The Company reported production tax credit income of $7.5 million in the first quarter of 2026. First quarter 2026 gross profit for the Company was $29.1 million, compared with $14.3 million in Q1 ’25 as the production tax credit income and lower corn costs more than offset the lower ethanol pricing. The Company reported interest and other income of $3.2 million in Q1 ’26, compared to $4.2 million in Q1 ’25. This led to Q1 ‘26 income before income taxes and non controlling interests of $26.1 million, compared with $13.6 million in Q1 ’25.\n\n\nNet income attributable to REX shareholders in Q1 ‘26 was $18.5 million, compared to $8.7 million in Q1 ’25. First quarter ‘26 diluted net income per share attributable to REX common shareholders was $0.56, compared to $0.26 per share in Q1 ’25. Per share results for Q1 ’26 and Q1 ’25 are based on 33,116,000 and 33,878,000 diluted weighted average shares outstanding, respectively.\n\n\nUpdate on One Earth Energy Ethanol Production Expansion and Carbon Capture Projects\nREX is nearing completion of the expansion of ethanol production at the One Earth facility. The Company expects testing and commissioning to begin upon completion, with the facility becoming fully operational during fiscal 2026.\n\n\nThe Company’s carbon capture and sequestration project continues to await permitting for the Class VI injection well and associated carbon dioxide pipeline. REX remains actively engaged with the U.S. EPA and the Illinois Commerce Commission throughout both processes.\n\n\nCapital expenditures to-date related to the One Earth Energy carbon capture and...