REX earnings analysis
What we found in REX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
REX reported quarterly revenue of $168.493 million and diluted EPS of $1.06, described in the prior earnings disclosure as record second-quarter EPS. The filing provides limited operating, balance-sheet, and cash-flow detail in the supplied extract and contains no numeric forward guidance. Commodity exposure remains material, with a 10% adverse ethanol-price move estimated to reduce pretax income by $59.307 million.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue and EPS were strong
- Quarterly revenue was $168.493 million and diluted EPS was $1.06. The prior earnings disclosure characterized the result as record second-quarter EPS, although the 10-Q extract does not provide the comparative income-statement amounts needed to quantify year-over-year changes.
- Commodity-risk disclosure quantified
- Management reported commodity-risk exposure for the 12 months following July 31, 2026, with a 10% adverse ethanol-price change estimated to reduce pretax income by $59.307 million.
- Share repurchases continued
- The company repurchased 36,801 shares during June 2026 at an average price of $42.97 per share, with 2,320,385 shares remaining available under the authorization at July 31, 2026.
- Controls remained effective
- The 10-Q states that disclosure controls and procedures were effective as of the end of the period, and that there were no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Material commodity-price exposure
- A 10% adverse change in corn prices was estimated to reduce pretax income by $42.713 million over the following 12 months; corresponding sensitivities were $10.032 million for distillers grains and $7.528 million for distillers corn oil.
- Ethanol-price sensitivity
- The filing identifies a 10% adverse change in ethanol prices as a potential $59.307 million reduction in pretax income over the next 12 months, highlighting continued dependence on ethanol economics.
- No formal risk-factor update
- The company disclosed no material changes to the risk factors in its January 31, 2026 Form 10-K. Separately, the filing estimates a $1.524 million pretax-income impact from a 10% adverse change in natural-gas prices.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.06
What they said about what is next.
No numeric revenue or EPS guidance was provided in the filing; the 10-Q states that there were no material changes to the risk factors in the January 31, 2026 Form 10-K.
The filing reads about the same as the one before it.
What came before.
- 10-Q · June 2, 2026
- REX American Resources reported a revenue of $156.5 million for Q1 2026, slightly down from $158.3 million in Q1 2025, attributed to lower ethanol prices despite gains in other product segments such as distillers corn…
- 10-K · March 30, 2026
- REX American Resources Corporation reported solid performance in fiscal year 2025 with growth in net income driven by efficient operations and favorable market conditions for ethanol and by-products. The company is…
- 10-Q · December 4, 2025
- REX American Resources Corporation reported a strong third quarter with notable improvements in revenue and profitability, driven by robust distillers corn oil sales despite facing pressures from ethanol prices. The…
- 10-Q · September 2, 2025
- REX reported a Q2 FY2025 revenue decrease of 7.8% year-over-year, totaling $158.6 million, while diluted EPS improved to $0.43 from $0.35 last quarter. The company experienced heightened operational margins but…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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