REX American Q1 2022 Earnings Report
Key Takeaways
REX American Resources reported Q1 2022 results with net sales and revenue of $194.2 million compared to $164.0 million in Q1 2021. Net income attributable to REX shareholders was $5.2 million, a decrease from $7.8 million in the previous year. The company reported earnings of $0.87 per share.
Q1 2022 net sales and revenue increased to $194.2 million from $164.0 million in Q1 2021, driven by higher pricing of ethanol and related by-products.
Gross profit for continuing operations declined to $11.9 million in Q1 2022, compared to $19.5 million in Q1 2021, due to increased cost of sales.
Net income attributable to REX shareholders decreased to $5.2 million in Q1 2022 from $7.8 million in Q1 2021.
Basic and diluted net income per share attributable to REX common shareholders was $0.87, compared to $1.30 in Q1 2021.
REX American
REX American
Forward Guidance
REX American Resources remains focused on creating shareholder value by strategically leveraging financial resources and progressing on its carbon capture project.
Positive Outlook
- Strategically leveraging financial resources.
- Creating added shareholder value.
- Continuing progress on carbon capture project.
- Evaluating other opportunities.
- Operating strategies success
Challenges Ahead
- Significant headwinds.
- Inflationary impacts on major input costs.
- Logistical challenges.
- Pricing pressures across corn.
- Pricing pressures across natural gas prices.