REX American Resources Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended October 31, 2022
December 01, 2022 at 07:00 am EST
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REX American Resources Corporation reported earnings results for the third quarter and nine months ended October 31, 2022. For the third quarter, the company reported sales was USD 220.28 million compared to USD 203.07 million a year ago. Net income was USD 3.18 million compared to USD 15.28 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.74 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.74 a year ago. Basic earnings per share was USD 0.18 compared to USD 0.85 a year ago. Diluted earnings per share was USD 0.18 compared to USD 0.85 a year ago.
For the nine months, sales was USD 654.83 million compared to USD 562.79 million a year ago. Net income was USD 19.54 million compared to USD 30.94 million a year ago. Basic earnings per share from continuing operations was USD 1.1 compared to USD 1.46 a year ago. Basic earnings per share was USD 1.1 compared to USD 1.72 a year ago.
Rex American Resources Corporation is an ethanol production company. The Company operates through the ethanol and by-products segment. Its ethanol operations are focused on corn, ethanol, distillersâ grains, non-food grade corn oil and natural gas. The Company has interests in over six ethanol production facilities, which in aggregate shipped approximately 730 million gallons of ethanol. The Company has ownership of the gallons shipped by the ethanol production facilities, which has ownership interests in approximately 300 million gallons. The Company operates through its subsidiaries, including One Earth Energy, LLC (One Earth), NuGen Energy, LLC (NuGen) and Big River Resources, LLC (Big River). The Companyâs ethanol production facilities are located across Illinois, Indiana, Iowa, Minnesota, Nebraska, Ohio and South Dakota.