REX American Resources Corporation (REX) Q3 2025 Earnings Call

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including their company's reports on Form 10-K and 10-Q. Brexit American Resources assumes no obligation to publicly update or revise any forward-looking statements. I'd now like to turn the call over to our Executive Chairman, Stuart Rose. Good morning, and thank you again to everyone for joining us. During the third quarter of 2025, Rex American Resources continued to demonstrate the strength and operational expertise that has defined our company for over four decades. I'm pleased to report that we are making progress on operational milestones we set out to accomplish and continue to position Rex for sustained long-term growth. Our third quarter results reflect our focus on solidifying our core business of ethanol production. Our strong results during the quarter benefited from supportive ethanol industry dynamics, especially export volumes and strong crush spreads. Our one earth energy facility expansion to 200 million gallons per year is continuing and is on track for completion in 2026. This expansion will significantly enhance our production capabilities and operational efficiency, contributing meaningfully to future performance. Additionally, we have begun examining potential benefits we can derive in the near term from 45Z tax credits. We are actively engaged with groups to assess our operations and assign a carbon intensity score to our production operations, which we expect to be below the threshold to begin earning credits. The third quarter demonstrated once again that REX's focus on operational excellence, strategic investments, and disciplined capital allocation continues to deliver superior results. Our net income per share of 71 cents represent strong performance, reflecting our team's exceptional execution and managing input costs and timely executio...