REX American Resources Reports Record Q2 Earnings
REX American Resources Corporation (NYSE:REX) reported record second-quarter earnings for fiscal 2026, with net income rising to $34.9 million or $1.06 per diluted share from $7.1 million a year earlier. The company attributed the strong performance to improved ethanol margins and product pricing as well as contributions from Section 45Z production tax credits. REX's revenue increased to $168.5 million, while gross profit surged to $53.3 million—up significantly compared to the prior-year quarter of $14.3 million. Management noted that even without the $18.4 million in 45Z tax credit income recognized during the period, gross profits would have still increased by about 144% year over year. The company remains on track for its One Earth ethanol expansion project to be completed by the end of 2026 and has received draft permits from the EPA for carbon-injection wells. REX ended Q2 with $379.5 million in cash and short-term investments, no bank debt, and expects continued profitability into Q3.
Topics: ethanol industry expansion projects financial performance tax credits