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Rex American Resources (REX)
NYSE:REX
Earnings Data
Report Date
Mar 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.27Last Year’s EPS
1.16Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 03, 2024
|% Change Since: 0.02%
|Next Earnings Date:Mar 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, with record net income and earnings per share, increased ethanol sales, and progress in carbon capture projects reflecting a positive outlook. However, there are challenges such as rising SG&A expenses and potential impacts from decreased exports and regulatory delays. Despite these challenges, the positive aspects significantly outweigh the negatives, leading to an optimistic future outlook.Company Guidance
During the REX American Resources fiscal 2023 third-quarter earnings call, the executives highlighted a record-breaking net income and earnings per share performance. The company's sales volume of ethanol increased to 73.2 million gallons compared to 66.3 million gallons last year. Despite lower commodity pricing, the gross profit surged by $30 million to $39.3 million, mainly due to decreased corn and natural gas costs. The SG&A expenses rose from $5.8 million to $7.6 million, driven by incentive compensation. The company reported significant income from unconsolidated equity investments, amounting to $4.7 million, a substantial increase from the previous year's $661,000. Interest and other income also doubled to $4.9 million, benefiting from higher interest rates and USDA COVID relief grants. Consequently, the income before taxes soared to $41.3 million, with a tax provision of $9.6 million, resulting in a net income of $26.1 million, or $1.49 per share, compared to $0.18 last year. Looking ahead, the company anticipates an even stronger fourth quarter, bolstered by ongoing projects like the carbon capture initiative and the expansion of the One Earth Energy plant, supported by their robust cash reserves of $332 million.Record Net Income and Earnings Per Share
REX American Resources reported an all-time record net income attributable to shareholders of $26.1 million for the third quarter, compared to $3.2 million in the prior year, with earnings per share reaching $1.49 versus $0.18.
Increased Ethanol Sales Volume
Ethanol sales for the quarter were based on 73.2 million gallons, up from 66.3 million gallons last year.
Significant Improvement in Gross Profit
Gross profit for the third quarter increased by $30 million to $39.3 million, benefiting from lower corn and natural gas pricing.
Positive Impact of Lower Natural Gas Prices
Natural gas price drops contributed positively to financial results, with futures prices for March dropping as low as $2.56 to $2.67.
Advancement in Carbon Capture Project
Progress on the carbon capture and sequestration project continues, with construction started and modular compression equipment expected by early next year.
Robust Cash Position
The company holds consolidated cash of $332 million, earning significant interest.
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REX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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REX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 03, 2024 | $43.45 | $41.95 | -3.45% |
| Aug 27, 2024 | $47.50 | $44.85 | -5.58% |
| May 22, 2024 | $56.18 | $57.94 | +3.13% |
| Mar 28, 2024 | $43.92 | $58.71 | +33.67% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Rex American Resources (REX) report earnings?
Rex American Resources (REX) is schdueled to report earning on Mar 20, 2025, TBA Not Confirmed.
What is Rex American Resources (REX) earnings time?
Rex American Resources (REX) earnings time is at Mar 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is REX EPS forecast?
REX EPS forecast for the fiscal quarter 2024 (Q4) is 0.27.
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