Welcome to our dedicated page for Rex American Res news (Ticker: REX), a resource for investors and traders seeking the latest updates and insights on Rex American Res stock.
News and earnings releases for REX American Resources Corp. (NYSE: REX) focus on its role as a holding company with interests in alternative energy and ethanol production entities. Company announcements emphasize that results "principally reflect" REX’s interests in six ethanol production facilities, where the One Earth Energy and NuGen Energy plants are consolidated and four additional plants are reported as equity in income of unconsolidated affiliates.
Investors following REX news will see regular updates on quarterly and annual financial results, including net sales and revenue, cost of sales, gross profit, and net income attributable to REX shareholders. Releases also highlight consolidated ethanol sales volumes, pricing trends for ethanol and co-products, and the impact of factors such as corn and natural gas costs on gross profit. Management commentary in these releases often discusses the company’s sequence of profitable quarters and its approach to capital allocation, including share repurchases.
Another recurring theme in REX news is progress on major capital projects at the One Earth facility in Gibson City, Illinois. Press releases provide detail on the ethanol production expansion and the carbon capture and sequestration project, including construction milestones, capital expenditures, and the status of the Environmental Protection Agency Class VI injection well permitting process. The company also reports on regulatory and policy developments that may affect these projects.
In addition, REX issues announcements about conference calls and webcasts for investors, specifying dates and times for discussions of quarterly and annual results. For investors and analysts tracking REX, this news stream offers insight into operational performance at its ethanol plants, the evolution of its capital projects, and board-level decisions such as stock repurchase authorizations and a two-for-one stock split.
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REX American Resources Corporation (NYSE: REX) reported its fiscal 2022 Q4 results, highlighting net sales of $200.2 million, a decrease from $212.0 million in Q4 ‘21. This drop was attributed to lower sales volumes of ethanol and by-products, coupled with increased input costs. Q4 '22 gross profit fell to $14.9 million from $38.8 million, with net income attributable to REX shareholders at $8.2 million, down from $21.3 million year-over-year. Despite these challenges, REX maintained a strong liquidity position with $281 million in cash and short-term investments and no debt, showcasing operational resilience amid rising commodity prices and disruptions.
REX American Resources Corporation (NYSE: REX) will report its fiscal 2022 fourth quarter financial results on March 23, pre-market. A conference call and webcast will be held at 11:00 a.m. ET to discuss these results. The company has interests in six ethanol production facilities, collectively shipping approximately 699 million gallons of ethanol in the past year. REX’s effective ownership resulted in approximately 277 million gallons shipped. Interested parties can access the call by dialing 212/231-2904 or visiting the REX website for the live webcast and replay.
REX American Resources Corporation has appointed Cheri Bustos as an Independent Director, increasing the board size to nine members. Bustos, who served as a Congresswoman and was on the House Agriculture Committee, brings valuable insights for REX's alternative energy and carbon sequestration projects. Her experience includes five terms in Congress and senior roles in non-profit healthcare. REX currently operates six ethanol production facilities, shipping approximately 699 million gallons of ethanol as of October 31, 2022. The company remains committed to innovation and stockholder value.
REX American Resources Corporation (NYSE: REX) reported Q3 '22 financial results with net sales of $220.3 million, up from $203.1 million in Q3 '21. However, gross profit plummeted to $11.3 million from $25.2 million due to rising corn and natural gas prices. The company posted a net income of $3.2 million, significantly down from $13.3 million a year prior. REX completed a stock repurchase of 249,570 shares for $6.8 million, maintaining a robust cash position of approximately $290 million and no debt. Outlook includes optimism on carbon capture initiatives supported by recent legislative changes.