REX American Q1 net income per share rises to $0.56 from $0.26 on tax credit income
REX American reported fiscal first quarter 2026 results for the three months ended April 30, 2026, with net income attributable to REX shareholders of $18.5 million, up from $8.7 million a year earlier. Net sales and revenue slipped to $156.5 million from $158.3 million on lower ethanol pricing, but gross profit more than doubled, helped by $7.5 million of production tax credit income. The company also changed how it accounts for Section 45Z tax credits, with prior periods retrospectively adjusted.
Key points
- Diluted net income per share attributable to REX common shareholders was $0.56, compared with $0.26 in Q1 2025, on 33,116,000 diluted weighted average shares.
- Net sales and revenue were $156.5 million versus $158.3 million, while gross profit rose to $29.1 million from $14.3 million.
- Cash, cash equivalents and short-term investments totaled $364.3 million as of April 30, 2026, with no bank debt.
- The One Earth expansion is nearing completion, the carbon capture project still awaits Class VI well permitting, and the company budgets $220-$230 million for these projects.
The filing
Written by AI on Nov 8, 2026, 6:58 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 May 28, 2026.
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.