{"id":760433,"date":"2023-05-25T07:08:04","date_gmt":"2023-05-25T11:08:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rex-american-resources-reports-fiscal-2023-first-quarter-net-income-per-share-attributable-to-rex-common-shareholders-of-0-30\/"},"modified":"2023-05-25T07:08:04","modified_gmt":"2023-05-25T11:08:04","slug":"rex-american-resources-reports-fiscal-2023-first-quarter-net-income-per-share-attributable-to-rex-common-shareholders-of-0-30","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rex-american-resources-reports-fiscal-2023-first-quarter-net-income-per-share-attributable-to-rex-common-shareholders-of-0-30\/","title":{"rendered":"REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30"},"content":{"rendered":"

<\/p>\n

REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30<\/b><\/p>\n

Publishes Inaugural Sustainability Report<\/b><\/p>\n

DAYTON, Ohio–(BUSINESS WIRE<\/a>)–
\nREX American Resources Corporation (NYSE: REX) (\u201cREX\u201d or \u201cthe Company\u201d) today reported financial results for its fiscal 2023 first quarter (\u201cQ1 \u201823\u201d) ended April 30, 2023. REX management will host a conference call and webcast today at 11:00 a.m. ET.<\/p>\n\n\n\n\n
\n

Conference Call:<\/b><\/p>\n<\/td>\n

\n\n

\n212\/231-2905<\/p>\n<\/td>\n<\/tr>\n

\n

Webcast \/ Replay URL:<\/b><\/p>\n<\/td>\n

\n\n

www.rexamerican.com<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\nThe webcast will be available for replay for 30 days.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nREX American Resources\u2019 Q1 \u201823 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (\u201cOne Earth\u201d) and NuGen Energy, LLC (\u201cNuGen\u201d) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates.<\/p>\n

\nREX\u2019s Q1 \u201823 net sales and revenue rose 9.5% to $212.7 million from $194.2 million in Q1 \u201822. The year-over-year net sales and revenue increase primarily reflects an increase in the quantities sold of ethanol, dried distillers grains and distillers corn oil as well as higher prices for dried and modified distillers grains. Q1 \u201823 gross profit increased 26.2% to $15.0 million, from $11.9 million in Q1 \u201922, while SG&A increased to $10.6 million. This led to Q1 \u201823 income before income taxes and non-controlling interests of $8.7 million, compared with $8.8 million in the comparable year ago period.<\/p>\n

\nNet income attributable to REX shareholders was $5.2 million in both Q1 \u201923 and Q1 \u201922. Q1 \u201823 basic and diluted net income per share attributable to REX common shareholders was $0.30, compared to $0.29 per share in Q1 \u201822. Per share results for Q1 \u201823 and Q1 \u201822 are based on 17,439,000 and 17,836,000 diluted weighted average shares outstanding, respectively, reflecting the Company\u2019s 3-for-1 common stock split effected August 5, 2022.<\/p>\n

\nREX American Resources\u2019 Chief Executive Officer, Zafar Rizvi, commented, \u201cOur first quarter results mark our eleventh consecutive quarter of profitability as we have consistently offset challenges related to the industry and economy. The first quarter results reflect the positive trends across our operating margins as the quarter progressed as well as the continued disciplined and efficient operation of our plants.<\/p>\n

\n\u201cWe recently published REX\u2019s inaugural Sustainability Report which is available on our website and highlights our commitment to addressing the sustainable economy and our social responsibilities. We continue to strategically invest in initiatives that we expect will generate attractive rates of return, including enhanced production and energy efficiency at our plants, which are intended to reduce the carbon intensity of our plants. In addition, we continue to advance our One Earth carbon capture project and remain excited by the significant opportunities this initiative holds. Our NuGen Energy facility recently reached an agreement to be part of Summit Carbon Solutions\u2019 carbon capture and storage pipeline, which we believe will further advance our sustainability goals.<\/p>\n

\n\u201cOur healthy financial foundation, company-wide focus on operational excellence and the effectiveness of our plant operations teams reinforce our confidence in our ability to extend our long track record of leading industry results. As we look to the balance of fiscal 2023 and beyond, we intend to continue our strategic investments in the efficiency and capacity of our plants and moving our carbon capture and sequestration initiatives forward.\u201d<\/p>\n

Balance Sheet<\/b><\/p>\n

\nAs of April 30, 2023, REX had cash and cash equivalents and short-term investments of $265.8 million, $34.2 million of which was at the parent company, and $231.6 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2023, of $280.9 million, $42.1 million of which was at the parent company, and $238.8 million of which was at its consolidated ethanol production facilities.<\/p>\n

The following table summarizes select data related to REX\u2019s
\n
<\/b>c<\/b>onsolidated alternative energy interests:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n
\n\nThree Months Ended<\/b><\/td>\n<\/tr>\n
\n\nApril 30,<\/b><\/td>\n<\/tr>\n
\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

Average selling price per gallon of ethanol<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n2.21<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2.28<\/p>\n<\/td>\n<\/tr>\n

Average selling price per ton of dried distillers grains<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n244.85<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n218.90<\/p>\n<\/td>\n<\/tr>\n

Average selling price per pound of distillers corn oil<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.63<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.63<\/p>\n<\/td>\n<\/tr>\n

Average selling price per ton of modified distillers grains<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n127.58<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n118.09<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Ethanol gallons sold (in millions)<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n71.5<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n64.5<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

First Quarter Conference Call<\/b><\/i><\/p>\n

\nREX will host a conference call at 11:00 a.m. ET today to discuss the quarterly results and will host a question and answer session. The dial in number for the audio conference call is 212\/231-2905 (domestic and international callers). Participants can also listen to a live webcast of the call on the Company\u2019s website at, www.rexamerican.com<\/a>. A webcast replay will be available for 30 days following the live event.<\/p>\n

About REX American Resources Corporation<\/b><\/i><\/p>\n

\nREX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 688 million gallons of ethanol over the twelve-month period ended April 30, 2023. REX\u2019s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended April 30, 2023) by the ethanol production facilities in which it has ownership interests was approximately 266 million gallons. Further information about REX is available at www.rexamerican.com<\/a>.<\/p>\n

\nThis news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as \u201cmay,\u201d \u201cexpect,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201canticipate\u201d or \u201ccontinue\u201d or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company\u2019s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company\u2019s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, distillers corn oil, commodity market risk, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Consolidated Statements of Operations<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in thousands, except per share amounts)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\nThree Months Ended<\/b><\/td>\n<\/tr>\n
\n\n\nApril 30,<\/b><\/td>\n<\/tr>\n
\n\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

Net sales and revenue<\/td>\n\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n212,714<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n194,228<\/p>\n<\/td>\n<\/tr>\n

Cost of sales<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n197,685<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n182,316<\/p>\n<\/td>\n<\/tr>\n

Gross profit<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n15,029<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,912<\/p>\n<\/td>\n<\/tr>\n

Selling, general and administrative expenses<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(10,632)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(5,203)<\/p>\n<\/td>\n<\/tr>\n

Equity in income of unconsolidated ethanol affiliates<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,490<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,951<\/p>\n<\/td>\n<\/tr>\n

Interest and other income, net<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,801<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n174<\/p>\n<\/td>\n<\/tr>\n

Income before income taxes and noncontrolling interests<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,688<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,834<\/p>\n<\/td>\n<\/tr>\n

Provision for income taxes<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,988)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,848)<\/p>\n<\/td>\n<\/tr>\n

Net income<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,700<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,986<\/p>\n<\/td>\n<\/tr>\n

Net income attributable to noncontrolling interests<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,464)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,804)<\/p>\n<\/td>\n<\/tr>\n

Net income attributable to REX common shareholders<\/td>\n\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n5,236<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n5,182<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Weighted average shares outstanding – basic and diluted<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n17,439<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n17,836<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Basic and diluted net income per share attributable to REX common shareholders<\/td>\n\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.30<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.29<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n– balance sheets follow –<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in thousands)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

April 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

January 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nASSETS:<\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nCURRENT ASSETS:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nCash and cash equivalents<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n77,667<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n69,612<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nShort-term investments<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n188,143<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n211,331<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nRestricted cash<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,379<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,735<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nAccounts receivable<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,217<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n25,162<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nInventory<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n41,299<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n48,744<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nRefundable income taxes<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,983<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,962<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nPrepaid expenses and other<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n16,268<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,098<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal current assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n360,956<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n372,644<\/p>\n<\/td>\n<\/tr>\n

\n

\nProperty and equipment, net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n135,125<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n135,497<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating lease right-of-use assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,907<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n15,214<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred taxes and other assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n22,018<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n23,179<\/p>\n<\/td>\n<\/tr>\n

\n

\nEquity method investment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n34,535<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n33,045<\/p>\n<\/td>\n<\/tr>\n

\n

\nTOTAL ASSETS<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n566,541<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n579,579<\/p>\n<\/td>\n<\/tr>\n

\n

\nLIABILITIES AND EQUITY:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCURRENT LIABILITIES:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nAccounts payable – trade<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n17,874<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n34,091<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nCurrent operating lease liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,142<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,180<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nAccrued expenses and other current liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,173<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n15,328<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal current liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n36,189<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54,599<\/p>\n<\/td>\n<\/tr>\n

\n

\nLONG-TERM LIABILITIES:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nDeferred taxes<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,097<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,097<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nLong-term operating lease liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,696<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,855<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nOther long-term liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,158<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,034<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal long-term liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,951<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,986<\/p>\n<\/td>\n<\/tr>\n

\n

\nEQUITY:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nREX shareholders’ equity:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nCommon stock<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n299<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n299<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nPaid-in capital<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n940<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n578<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nRetained earnings<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n646,062<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n640,826<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTreasury stock<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(193,660)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(193,721)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal REX shareholders’ equity<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n453,641<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n447,982<\/p>\n<\/td>\n<\/tr>\n

\n

\nNoncontrolling interests<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n63,760<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n63,012<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal equity<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n517,401<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n510,994<\/p>\n<\/td>\n<\/tr>\n

\n

\nTOTAL LIABILITIES AND EQUITY<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n566,541<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n579,579<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n– statements of cash flows follow –<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Consolidated Statements of Cash Flows<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in thousands)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\nThree Months Ended<\/b><\/td>\n<\/tr>\n
\n\n\n\nApril 30,<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

CASH FLOWS FROM OPERATING ACTIVITIES:<\/td>\n\n\n\n\n<\/tr>\n
Net income including noncontrolling interests<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n6,700<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n6,986<\/p>\n<\/td>\n<\/tr>\n

Adjustments to reconcile net income to net cash<\/td>\n\n\n\n\n<\/tr>\n
used in operating activities:<\/td>\n\n\n\n\n<\/tr>\n
\nDepreciation<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,420<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,459<\/p>\n<\/td>\n<\/tr>\n

\nAmortization of operating lease right-of-use assets<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,334<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,430<\/p>\n<\/td>\n<\/tr>\n

\nIncome from equity method investments<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,490)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,951)<\/p>\n<\/td>\n<\/tr>\n

\nInterest income from investments<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,052)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(148)<\/p>\n<\/td>\n<\/tr>\n

\nDeferred income taxes<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,342<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,161<\/p>\n<\/td>\n<\/tr>\n

\nStock based compensation expense<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n612<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n218<\/p>\n<\/td>\n<\/tr>\n

\n(Gain) loss on sale of property and equipment – net<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(10)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5<\/p>\n<\/td>\n<\/tr>\n

Changes in assets and liabilities:<\/td>\n\n\n\n\n<\/tr>\n
\nAccounts receivable<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,055)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n381<\/p>\n<\/td>\n<\/tr>\n

\nInventories<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n7,445<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,163)<\/p>\n<\/td>\n<\/tr>\n

\nRefundable income taxes<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,021)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n581<\/p>\n<\/td>\n<\/tr>\n

\nOther assets<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,342)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,529)<\/p>\n<\/td>\n<\/tr>\n

\nAccounts payable – trade<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(16,066)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(13,233)<\/p>\n<\/td>\n<\/tr>\n

\nOther liabilities<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,444)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n124<\/p>\n<\/td>\n<\/tr>\n

Net cash used in operating activities<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(10,627)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(17,679)<\/p>\n<\/td>\n<\/tr>\n

CASH FLOWS FROM INVESTING ACTIVITIES:<\/td>\n\n\n\n\n<\/tr>\n
\nCapital Expenditures<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,199)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,462)<\/p>\n<\/td>\n<\/tr>\n

\nPurchase of short-term investments<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(102,348)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(161,599)<\/p>\n<\/td>\n<\/tr>\n

\nSale of short-term investments<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n127,588<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20,278<\/p>\n<\/td>\n<\/tr>\n

\nDeposits<\/td>\n\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(9)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\nProceeds from sale of real estate and property and equipment<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n10<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

Net cash provided by (used in) investing activities<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n21,042<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(142,783)<\/p>\n<\/td>\n<\/tr>\n

CASH FLOWS FROM FINANCING ACTIVITIES:<\/td>\n\n\n\n\n<\/tr>\n
\nPayments to noncontrolling interests holders<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(716)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n<\/tr>\n

Net cash used in financing activities<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(716)<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,699<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(160,463)<\/p>\n<\/td>\n<\/tr>\n

CASH, CASH EQUIVALENTS AND RESTRICTED CASH – Beginning of period<\/td>\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n71,347<\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n232,068<\/p>\n<\/td>\n<\/tr>\n

CASH, CASH EQUIVALENTS AND RESTRICTED CASH – End of period<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n81,046<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n71,605<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Non-cash financing activities – Stock awards accrued<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n189<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n174<\/p>\n<\/td>\n<\/tr>\n

Non-cash investing activities – Accrued capital expenditures<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n274<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n205<\/p>\n<\/td>\n<\/tr>\n

Right-of-use assets acquired and liabilities incurred upon lease execution<\/td>\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n97<\/p>\n<\/td>\n

\n\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,460<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230525005186\/en\/<\/a><\/span><\/p>\n

\nDouglas Bruggeman
\n
Chief Financial Officer
\n
(937) 276\u20113931<\/p>\n

\nJoseph Jaffoni, Norberto Aja
\n
JCIR
\n
(212) 835-8500 \/ rex@jcir.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Ohio<\/p>\n

INDUSTRY KEYWORDS:<\/b> Sustainability Energy Environment Oil\/Gas<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30 Publishes Inaugural Sustainability Report DAYTON, Ohio–(BUSINESS WIRE)– REX American Resources Corporation (NYSE: REX) (\u201cREX\u201d or \u201cthe Company\u201d) today reported financial results for its fiscal 2023 first quarter (\u201cQ1 \u201823\u201d) ended April 30, 2023. REX management will host a conference call and webcast today at 11:00 a.m. ET. Conference Call: 212\/231-2905 Webcast \/ Replay URL: www.rexamerican.com \u00a0 The webcast will be available for replay for 30 days. REX American Resources\u2019 Q1 \u201823 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (\u201cOne Earth\u201d) and NuGen Energy, LLC (\u201cNuGen\u201d) ethanol production facilities are consolidated, while the four … <\/p>\n

Continue reading “REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-760433","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nREX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rex-american-resources-reports-fiscal-2023-first-quarter-net-income-per-share-attributable-to-rex-common-shareholders-of-0-30\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"REX American Resources Reports Fiscal 2023 First Quarter Net Income Per Share Attributable to REX Common Shareholders Of $0.30 Publishes Inaugural Sustainability Report DAYTON, Ohio–(BUSINESS WIRE)– REX American Resources Corporation (NYSE: REX) (\u201cREX\u201d or \u201cthe Company\u201d) today reported financial results for its fiscal 2023 first quarter (\u201cQ1 \u201823\u201d) ended April 30, 2023. REX management will host a conference call and webcast today at 11:00 a.m. ET. Conference Call: 212\/231-2905 Webcast \/ Replay URL: www.rexamerican.com \u00a0 The webcast will be available for replay for 30 days. REX American Resources\u2019 Q1 \u201823 results principally reflect its interests in six ethanol production facilities. 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REX management will host a conference call and webcast today at 11:00 a.m. ET. Conference Call: 212\/231-2905 Webcast \/ Replay URL: www.rexamerican.com \u00a0 The webcast will be available for replay for 30 days. REX American Resources\u2019 Q1 \u201823 results principally reflect its interests in six ethanol production facilities. 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