REX American Q1 2021 Earnings Report
Key Takeaways
REX American Resources reported a net income of $7.8 million and earnings per share of $1.30 for the first quarter of fiscal 2021, a significant improvement compared to the previous year, driven by higher ethanol production levels and improved pricing in the ethanol and by-products segments.
Net sales and revenue increased to $164.1 million, compared to $83.3 million in the same quarter last year.
Ethanol and by-products segment gross profit increased to $19.5 million, compared to a loss of $8.2 million in the prior year.
Net income attributable to REX shareholders was $7.8 million, a significant turnaround from the net loss of $7.6 million in the first quarter of the previous year.
Basic and diluted net income per share attributable to REX common shareholders was $1.30, compared to a net loss per share of $1.21 in the prior year.
REX American
REX American
REX American Revenue by Segment
Forward Guidance
The operating environment in the first quarter of fiscal 2021 was markedly better than the challenging environment experienced throughout most of fiscal 2020, with significant improvements to demand and pricing across our ethanol and by-products segments.