REX (REX) Surpasses Q2 Earnings and Revenue Estimates

Company Performance - REX reported quarterly earnings of $0.70 per share, exceeding the Zacks Consensus Estimate of $0.44 per share, and up from $0.52 per share a year ago, representing an earnings surprise of 59.09% [1] - The company posted revenues of $148.16 million for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 1.48%, but down from year-ago revenues of $211.98 million [2] - REX has surpassed consensus EPS estimates for the last four quarters and has topped consensus revenue estimates four times over the same period [2] Future Outlook - The sustainability of REX's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3] - Current consensus EPS estimate for the coming quarter is $0.47 on revenues of $159 million, and for the current fiscal year, it is $1.79 on revenues of $622 million [7] - The estimate revisions trend for REX is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Biofuels industry, to which REX belongs, is currently ranked in the bottom 24% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact REX's stock performance [5]