Q2 2025 REX American Resources Corp Earnings Call Transcript
Key Points
- REX American Resources Corp (REX) successfully extended its core ethanol production business and moved forward with the One Earth Energy expansion project.
- The passage of The One Big Beautiful Bill Act supports REX's carbon capture and sequestration project, enhancing long-term success prospects.
- REX maintained a strong balance sheet with ample cash to complete growth initiatives and potential acquisitions.
- The Board of Directors authorized a 2 for 1 stock split, rewarding shareholders and increasing share liquidity.
- REX achieved 20 consecutive quarters of profitability, reflecting strong operational discipline and commitment.
- Gross profit for the second quarter decreased to $14.3 million from $19.8 million in Q2 2024, primarily due to lower sales prices for dried distillers grains.
- Net income attributable to REX shareholders fell to $7.1 million or $0.43 per diluted share, compared to $12.4 million or $0.70 per diluted share in Q2 2024.
- The average selling price for ethanol decreased from $1.79 per gallon in the prior year to $1.75 per gallon.
- Dried distillers grain sales volumes saw a decrease in average selling price from $164.45 to $143.63 per ton.
- Export of dried distillers grains has dropped compared to last year, with Mexico buying less in the first six months.
Greetings, and welcome to REX American Resource Corporation second quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Doug Bruggeman. Thank you. You may begin.
Good morning, and thank you for joining REX American Resources' quarter two 2025 conference call. With me on our call today are Stuart Rose, REX's Executive Chairman; and Zafar Rizvi, REX's Chief Executive Officer. We'll get to our presentation and comments momentarily as well as your questions, but first I will review the Safe Harbor disclosure.
In addition to historical facts or statements of current conditions, today's conference call contains forward-looking statements that involve risks and uncertainties within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations and
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