REX American Resources Reports Record Q2 Earnings Amid Ethanol Expansion and Tax Credit Benefits
REX American Resources (REX) reported record second-quarter net income per diluted share of $1.06, driven by improved pricing across its product mix, stronger crush margins, and a production tax credit under the Section 45Z program. The company generated revenue of $168.5 million with gross profit reaching $53.3 million. Excluding tax credits, core gross profit surged 144% year-over-year. REX maintained a strong financial position with $379.5 million in cash and short-term investments while remaining debt-free. The company is investing heavily into its One Earth ethanol expansion project, which has seen cumulative capital expenditures of $191.2 million. It also made progress on carbon capture initiatives by receiving draft permits from the EPA for three Class VI injection wells. Looking ahead, management expects continued strong performance in Q3 and remains focused on strategic growth through internal funding or acquisitions.
Tickers: $REX
Topics: earnings ethanol production net income revenue growth