REX American Q2 EPS rises to $0.70 as sales fall to $148.2 million
REX American Resources reported fiscal second-quarter 2024 results for the three months ended July 31, 2024. Diluted earnings per share rose to $0.70 from $0.52 a year earlier, but net sales and revenue fell to $148.2 million from $212.0 million, mainly due to lower ethanol and co-product pricing. The company also said construction of its One Earth Energy carbon capture facility will run past its previously expected end-of-July completion timeframe.
Key points
- Net income attributable to REX shareholders was $12.4 million, compared with $9.1 million a year earlier.
- Net sales and revenue were $148.2 million, down from $212.0 million, and gross profit rose to $19.8 million from $18.4 million.
- The company had $346.0 million of cash, cash equivalents and short-term investments and no bank debt as of July 31, 2024.
- EPA projects a draft permit for the carbon capture project by the end of 2024, with a final permit decision in the second quarter of 2025.
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 27, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.