Welcome to our dedicated page for REX American Resources news (Ticker: REX), a resource for investors and traders seeking the latest updates and insights on REX American Resources stock.
REX American Resources Corp (symbol: REX) operates as a distinguished holding company with a primary focus on investments in alternative energy and ethanol production. The company has established itself in the renewable energy sector through its two key operating segments: Ethanol and By-Products.
REX's core offerings include ethanol, a widely used renewable fuel, and various by-products such as dried distillers grains (DDGS), modified distillers grains (MDGS), and non-food grade corn oil. These by-products are essential for animal feed and other industrial applications, contributing to sustainable agricultural practices.
The company's commitment to alternative energy is reflected in its strategic investments and partnerships, aimed at expanding its production capabilities and improving operational efficiencies. REX has been actively involved in acquiring and managing ethanol production facilities, which allows it to maintain a strong presence in the renewable energy market.
Recent achievements include advancements in production technology, strategic expansion into new markets, and efforts to reduce the environmental footprint of its operations. These initiatives highlight REX's dedication to innovation and sustainability.
Financially, REX American Resources Corp. remains robust, with consistent revenue streams generated from its diversified product lines. The company's sound financial health is supported by its prudent investment strategies and efficient management practices.
Investors are particularly interested in REX due to its stability and growth potential in the renewable energy sector. As the demand for sustainable energy solutions continues to rise, REX is well-positioned to capitalize on these trends.
For the latest updates and detailed information about REX American Resources Corp., including performance metrics and recent developments, visit our news section.
REX American Resources Corporation (NYSE: REX) reported its fiscal 2022 Q4 results, highlighting net sales of $200.2 million, a decrease from $212.0 million in Q4 ‘21. This drop was attributed to lower sales volumes of ethanol and by-products, coupled with increased input costs. Q4 '22 gross profit fell to $14.9 million from $38.8 million, with net income attributable to REX shareholders at $8.2 million, down from $21.3 million year-over-year. Despite these challenges, REX maintained a strong liquidity position with $281 million in cash and short-term investments and no debt, showcasing operational resilience amid rising commodity prices and disruptions.
REX American Resources Corporation (NYSE: REX) will report its fiscal 2022 fourth quarter financial results on March 23, pre-market. A conference call and webcast will be held at 11:00 a.m. ET to discuss these results. The company has interests in six ethanol production facilities, collectively shipping approximately 699 million gallons of ethanol in the past year. REX’s effective ownership resulted in approximately 277 million gallons shipped. Interested parties can access the call by dialing 212/231-2904 or visiting the REX website for the live webcast and replay.
REX American Resources Corporation has appointed Cheri Bustos as an Independent Director, increasing the board size to nine members. Bustos, who served as a Congresswoman and was on the House Agriculture Committee, brings valuable insights for REX's alternative energy and carbon sequestration projects. Her experience includes five terms in Congress and senior roles in non-profit healthcare. REX currently operates six ethanol production facilities, shipping approximately 699 million gallons of ethanol as of October 31, 2022. The company remains committed to innovation and stockholder value.
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