REX American Resources (REX) - 2026 Q1 - Quarterly Results

Financial Performance - REX reported Q1 2025 net sales and revenue of $158.3 million, a decrease of 5.4% from $161.2 million in Q1 2024[3] - Gross profit for Q1 2025 was $14.3 million, slightly down from $14.5 million in Q1 2024[3] - Net income attributable to REX shareholders in Q1 2025 was $8.7 million, compared to $10.2 million in Q1 2024, resulting in diluted net income per share of $0.51, down from $0.58[4] - Net income for the three months ended April 30, 2025, was $10,672 million, a decrease of 13.1% from $12,273 million in the same period of 2024[22] - Net cash used in operating activities was $3,476 million, compared to $2,263 million in the prior year, indicating a decline in operational cash flow[22] - Capital expenditures for the period were $6,900 million, significantly lower than $24,832 million in the previous year[22] - Net cash provided by investing activities was $1,809 million, down from $11,895 million year-over-year[22] - Cash and cash equivalents at the end of the period were $159,913 million, a decrease from $231,200 million at the end of the previous year[22] Shareholder Actions - REX repurchased approximately 822,000 shares for a total consideration of $32.7 million in Q1 2025, representing about 4.7% of outstanding shares[9] - Treasury stock acquired amounted to $32,670 million, reflecting a new strategy in capital management[22] Capital Expenditures and Investments - Capital expenditures related to the One Earth Energy carbon capture and ethanol production expansion project totaled $122.7 million, with a combined budget of $220-$230 million for completion[8] - Non-cash investing activities included accrued capital expenditures of $2,717 million, down from $3,938 million in the prior year[22] Ethanol Production - REX achieved consolidated ethanol sales volumes of 70.9 million gallons in Q1 2025[7] - The expansion of ethanol production at the One Earth facility is ongoing, with project completion anticipated in 2026[5] - REX's effective ownership of annual ethanol production volumes is approximately 300 million gallons across six facilities[13] Carbon Capture Project - The permitting process for the carbon capture project at the Gibson City location is ongoing, with final decisions expected in January 2026[6]