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REX American Resources Corporation Q1 2026 Earnings Call Summary
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The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved the most profitable first quarter on a net income per share basis in company history, marking the 23rd consecutive profitable quarter. Performance was primarily driven by the strategic recognition of Section 45Z production tax credits and a favorable reduction in corn pricing. Management attributes success to operational excellence and the ability to capitalize on market tailwinds in both domestic policy and international export markets. Maintained a strong liquidity position with $364.3 million in cash and zero bank debt, providing the flexibility to fund major growth projects organically. The company transitioned its accounting principles to report 45Z tax credits as operating income from consolidated plants, contributing $7.5 million in the quarter. Strategic positioning remains focused on high-quality plant locations and industry-leading personnel to navigate evolving market conditions. The ethanol facility expansion at Gibson City remains on schedule for completion by the end of 2026 to scale production capabilities. Management expects to submit a carbon pipeline application shortly after the Illinois state moratorium expires on July 1, 2026. Total investment for carbon capture and ethanol expansion projects is budgeted between $220 million and $230 million, subject to inflationary adjustments. The company continues to monitor federal 45Z regulations, currently booking the credit at a conservative $0.10 per gallon at consolidated plants. Outlook for the second quarter remains positive, with management citing stable operating conditions and confidence in continued profitability. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. SG&A expenses increased to $9.7 million, driven by higher incentive compensation and the fair value recording of unpaid stock bonuses from 2025. The carbon capture initiative is currently navigating the EPA Class 6 injection well permit application process, which remains ongoing. Ethanol export markets showed significant strength, with industry-wide exports increasing by 20% in the period ending March 2026. Equity income from unconsolidated affiliates rose to $3.6 million, with $1.8 million of that increase specifically attributed to 45Z tax credit benefits.
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