Rex American Resources Reports Q4 Earnings Beat Amid Revenue Decline

Rex American Resources Corporation reported fourth-quarter earnings that surpassed analyst expectations, posting an adjusted earnings per share of $0.63 compared to the consensus estimate of $0.27. However, net income fell to $11.1 million from $20.6 million in the same quarter last year, attributed to lower selling prices for ethanol and co-products, despite decreased corn prices and increased production levels. Revenue for the quarter was $158.23 million, down 15.7% year-over-year, but still above analysts' expectations of $151.54 million. The company's gross profit margin improved for the full fiscal year 2024, rising to 14% from 12% the previous year. Rex's board also authorized a new share buyback program, adding to the remaining shares under the existing authorization. Overall, the results reflect the company's strong operational management in a challenging market environment.