- \n
- \nGenerated $0.63 and $3.30 of net income per share in Q4 and Full Fiscal Year \u201824, respectively\n<\/li>\n
- \nReported gross profit of $17.6 million and $91.5 million for Q4 and Full Fiscal Year \u201824, respectively\n<\/li>\n
- \nReported net sales and revenue of $158.2 million and $642.5 million for Q4 and Full Fiscal Year \u201924, respectively\n<\/li>\n
- \nReported consolidated ethanol sales volumes of 74.6 million gallons and 289.7 million gallons for Q4 and Full Fiscal Year \u201924, respectively\n<\/li>\n<\/ul>\n
DAYTON, Ohio–(BUSINESS WIRE<\/a>)–
\nREX American Resources Corporation (\u201cREX\u201d or the \u201cCompany\u201d) (NYSE: REX), a leading ethanol production company, today announced financial and operational results for the Company\u2019s full year and fiscal fourth quarter 2024.\n<\/p>\n\nREX American Resources\u2019 Q4 and full fiscal year 2024 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.\n<\/p>\n
Full Fiscal Year 2024 Results<\/b><\/p>\n
\nFor the full fiscal year 2024, REX reported net sales and revenue of $642.5 million, compared with $833.4 million for full fiscal year 2023. The year-over-year net sales and revenue decrease primarily reflects reduced pricing for ethanol and co-products. Full fiscal year 2024 gross profit for the Company was $91.5 million, compared with $98.2 million in full fiscal year 2023, reflecting the lower selling prices, partially offset by decreased corn and natural gas prices and increased ethanol production levels. Gross profit margin for fiscal year 2024 increased to 14% from 12% for fiscal year 2023. This led to full fiscal year 2024 income before income taxes and non-controlling interests of $92.9 million, compared with $98.5 million in the prior year period.\n<\/p>\n
\nNet income attributable to REX shareholders in full fiscal year 2024 was $58.2 million, compared to $60.9 million in full fiscal year 2023. Full fiscal year diluted net income per share attributable to REX common shareholders was $3.30, compared to $3.47 per share in full fiscal year 2023. Per share results for full fiscal years 2024 and 2023 are based on 17,636,000 and 17,576,000 diluted weighted average shares outstanding, respectively.\n<\/p>\n
Fourth Quarter 2024 Results<\/b><\/p>\n
\nREX reported Q4 \u201924 net sales and revenue of $158.2 million, compared to Q4 \u201823 net sales and revenue of $187.6 million. The year-over-year net sales and revenue decrease primarily reflects lower product pricing. Q4 \u201824 gross profit for the Company was $17.6 million, compared with $30.4 million in Q4 \u201923, a result of the lower selling prices, partially offset by decreases in corn and natural gas prices, and increased ethanol production levels. This led to Q4 \u201824 income before income taxes and non-controlling interests of $17.9 million, compared with $32.5 million in Q4 \u201923.\n<\/p>\n
\nNet income attributable to REX shareholders in Q4 \u201824 was $11.1 million, compared to $20.6 million in Q4 \u201923. Q4 \u201824 diluted net income per share attributable to REX common shareholders was $0.63, compared to $1.16 per share in Q4 \u201923. Per share results for Q4 \u201924 and Q4 \u201923 are based on 17,630,000 and 17,657,000 diluted weighted average shares outstanding, respectively.\n<\/p>\n
Update on One Earth Energy Ethanol Production Expansion and Carbon Capture Projects<\/b><\/p>\n
\nREX is progressing on construction work for the expansion of ethanol production at the One Earth facility. Construction of utility substation and interconnection equipment, necessary for both the ethanol production expansion and the carbon capture and sequestration facilities, have been completed by the local Illinois utility.\n<\/p>\n
\nREX substantially completed construction of the capture and compression portions of its One Earth carbon capture and sequestration project at the Company\u2019s Gibson City, Illinois location during Fiscal Year 2024. Currently, the Environmental Protection Agency (EPA) Class VI injection well permitting process is ongoing, and final permitting is expected to be completed in October 2025, according to the published EPA timeline.\n<\/p>\n
\nAs previously noted, in July 2024 Illinois instituted a moratorium on the permitting and construction of new carbon dioxide pipelines in the state for the shorter of two years or until the approval and promulgation of new Federal pipeline safety guidelines.\n<\/p>\n
\nCapital expenditures at fiscal year-end related to the One Earth Energy carbon capture and sequestration project and related expansion of ethanol production capacity at the Gibson City location totaled $115.6 million. As part of the ongoing construction process, REX management is currently reviewing certain details of the ethanol expansion project. As a result of this review, REX expects the timeline for completion of the project to extend beyond the previously communicated target of the middle of 2025. The Company is now budgeting a total of $220-$230 million for this project.\n<\/p>\n
Share Repurchases<\/b><\/p>\n
\nDuring Fiscal Year 2024, the Company repurchased approximately 372,567 shares, for total consideration of $15.5 million. Subsequent to January 31, 2025, the Company repurchased 281,709 shares for approximately $11.9 million through open market transactions. After these repurchases, a total of 222,510 shares remained available to purchase under existing board authorization.\n<\/p>\n
\nOn March 25, 2025, the Board of Directors authorized the repurchase of up to an additional 1.5 million shares through open market transactions, privately negotiated transactions, or transactions by other means in accordance with applicable securities law, effective immediately. The new authorization is in addition to remaining repurchases already authorized under the prior repurchase authorization.\n<\/p>\n
Balance Sheet<\/b><\/p>\n
\nAs of January 31, 2025, REX had $359.1 million of cash, cash equivalents, and short-term investments available and no bank debt.\n<\/p>\n
Management Commentary<\/b><\/p>\n
\n\u201cDuring Fiscal Year 2024, REX American continued to provide value to shareholders in the form of profitable operations, properly positioning our growth strategy, and closely monitoring of policy at both the state and Federal levels,\u201d said Zafar Rizvi, REX Chief Executive Officer. \u201cOur continued financial success is due to our incredible team that lives and breathes the ethanol market every day. This is especially important in a weaker crush spread environment like we saw during the fourth quarter, and which has continued into first quarter 2025. As in the past, REX will continue to manage our business closely to deliver for our customers and shareholders.\n<\/p>\n
\n\u201cOur two growth projects at our One Earth facility are progressing, and REX is managing both operational and cost aspects in an effort for each project to deliver on its growth prospects for the Company. The technical review underway at our ethanol expansion project is in line with our philosophy of prioritizing efficiency of operations across our plants. As the carbon capture and sequestration facility\u2019s permitting moves forward, we are working to make sure that each project maximizes its growth potential and ultimately the bottom line,\u201d concluded Mr. Rizvi.\n<\/p>\n
Conference Call Information<\/b><\/p>\n
\nREX will host a conference call at 11:00 a.m. ET today to discuss the Company\u2019s full fiscal year and fourth quarter results, and will also host a question and answer session. To access the conference call, interested parties may dial (877) 269-7751 (US) or (201) 389-0908 (international). Participants can also view an updated presentation, as well as listen to a live webcast of the call by going to the Investors section on the REX website at www.rexamerican.com<\/a>. A replay will be available shortly after the live conference call and can be accessed by dialing (844) 512-2921 (US) or (412) 317-6671 (international). The passcode for the replay is 13751633. The replay will be available for 30 days after the call.\n<\/p>\n
About REX American Resources Corporation<\/b><\/p>\n
\nREX American Resources Corporation has interests in six ethanol production facilities, which in aggregate have production capacity totaling approximately 730 million gallons per year. REX\u2019s effective ownership of annual volumes is approximately 300 million gallons. Further information about REX is available at www.rexamerican.com<\/a>.\n<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis press release contains or may contain forward-looking statements as defined in 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 impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, distillers corn oil, gasoline and natural gas, commodity market risk, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, success in permitting and developing the planned carbon sequestration facility near the One Earth Energy ethanol plant, 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 and tariffs, changes in foreign currency exchange rates, the effects of terrorism or acts of war and the effect of pandemics on the Company\u2019s business operations, including impacts on supplies, demand, personnel and other factors. The Company does not intend to update publicly any forward-looking statements except as required by law.\u00a0\n<\/p>\n
\n
\n \n REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Consolidated Statements of Operations<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (in thousands, except per share amounts)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Unaudited<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n Twelve Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/span><\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2024<\/span><\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/span><\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2024<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales and revenue\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n158,228\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n187,614\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n642,491\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n833,384\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of sales\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n140,656\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n157,204\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n551,014\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n735,166\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross profit\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,572\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n30,410\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n91,477\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n98,218\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling, general and administrative expenses\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(6,171)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(7,383)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(27,148)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(29,379)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquity in income of unconsolidated ethanol affiliates\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,299\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,646\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,385\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,921\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest and other income, net\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,208\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,789\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,158\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,724\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes and noncontrolling interests\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,908\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n32,462\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n92,872\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n98,484\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for income taxes\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,805)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(7,164)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(21,386)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(22,560)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet Income\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,103\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,298\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n71,486\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n75,924\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet Income attributable to noncontrolling interests\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,004)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,730)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(13,319)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(14,989)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to REX common shareholders\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n11,099\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n20,568\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n58,167\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n60,935\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average shares outstanding \u2013 basic\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,630\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,548\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,636\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,482\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic net income per share attributable to REX common shareholders\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n0.63\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n1.17\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n3.30\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n3.49\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n \n \nWeighted average shares outstanding \u2013 diluted\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,630\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,657\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,636\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,576\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n \n \nDiluted net income per share attributable to REX common shareholders\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n0.63\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1.16\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n3.30\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n3.47\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (in thousands)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Unaudited<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/span><\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2024<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nASSETS:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCURRENT ASSETS:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n196,255\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n223,397\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n162,820\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n155,260\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n21,511\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n23,185\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventory\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n31,676\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26,984\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRefundable income taxes\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,445\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,728\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,112\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,549\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n435,819\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n452,103\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n210,683\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n155,587\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease right-of-use assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n20,985\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,038\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,721\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,138\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquity method investment\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n35,800\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n34,936\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTOTAL ASSETS\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n720,008\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n664,802\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLIABILITIES AND EQUITY:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCURRENT LIABILITIES:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable \u2013 trade\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n28,337\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n42,073\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent operating lease liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,746\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,469\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses and other current liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,360\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,717\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n50,443\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n66,259\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLONG-TERM LIABILITIES:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred taxes\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,562\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,598\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term operating lease liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,367\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,378\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term taxes payable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,334\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,700\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n970\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal long-term liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,963\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n10,946\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEQUITY:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nREX shareholders\u2019 equity:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n299\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n299\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPaid-in capital\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,470\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,769\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRetained earnings\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n759,928\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n701,761\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTreasury stock\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(206,360)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(191,911)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal REX shareholders\u2019 equity\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n560,337\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n513,918\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNoncontrolling interests\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n83,265\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n73,679\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal equity\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n643,602\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n587,597\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTOTAL LIABILITIES AND EQUITY\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n720,008\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n664,802\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Consolidated Statements of Cash Flows<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n January 31,<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/span><\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2024<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCASH FLOWS FROM OPERATING ACTIVITIES:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet Income including noncontrolling interest\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n71,486\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n75,924\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments to reconcile net income to net cash provided by operating activities:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,927\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n17,794\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of operating lease right-of-use assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,788\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,245\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome from equity method investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(9,385)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(13,921)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDividends received from equity method investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,521\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n12,030\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income from investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(5,576)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(10,008)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,802\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,627\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock based compensation expense\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,638\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,209\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on disposal of property and equipment \u2013 net\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n50\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n243\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChanges in assets and liabilities:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,674\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,977\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,692)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n21,760\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRefundable income taxes\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(717)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(2,766)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(14,946)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,495)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable \u2013 trade\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(14,724)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,868\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term taxes payable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,334\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(6,988)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,517)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by operating activities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n64,192\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n127,970\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCASH FLOWS FROM INVESTING ACTIVITIES:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCapital expenditures\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(71,318)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(37,663)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchase of short-term investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(372,341)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(448,507)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMaturity of short-term investments\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n370,357\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n514,586\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from sale of real estate and property and\n<\/p>\n
\nequipment\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
\n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
\n262\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
\n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
\n29\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeposits\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n180\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(43)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash (used in) provided by investing activities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(72,860)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n28,402\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCASH FLOWS FROM FINANCING ACTIVITIES:\n<\/p>\n<\/td>\n
\n \n <\/tr>\n \n \n \nTreasury stock acquired\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(14,741)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCapital contributions from minority investor\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n22\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPayments to noncontrolling interests holders\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,733)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,344)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in financing activities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(18,474)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(4,322)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(27,142)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n152,050\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCASH AND CASH EQUIVALENTS \u2013 Beginning of year\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n223,397\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n71,347\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCASH AND CASH EQUIVALENTS \u2013 End of year\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n196,255\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n223,397\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n <\/tr>\n \n \n \nNon-cash investing activities \u2013 Accrued capital expenditures\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n1,152\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n918\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-cash investing activities \u2013 Capital additions transferred from prepaid expenses\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n217\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
–<\/td>\n<\/tr>\n \n \n \nNon-cash financing activities \u2013 Stock awards accrued\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n2,037\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n2,172\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-cash financing activities \u2013 Stock awards issued\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n2,172\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n965\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-cash financing activities \u2013 Stock repurchase accrued\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n781\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRight-of-use assets acquired and liabilities incurred upon lease execution\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n13,734\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n3,210\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250326460735\/en\/<\/a><\/span><\/p>\n
Investor Contacts
\n<\/b>
Douglas Bruggeman
\n
Chief Financial Officer\n<\/p>\n