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Jul 31, 2022
REX American Q2 2022 Earnings Report
Net income and sales increased in Q2 2022.
Key Takeaways
REX American Resources reported a strong second quarter in fiscal year 2022, with a 23% increase in net sales and a 43% increase in net income per share, driven by higher pricing of ethanol and by-products.
Net sales and revenue increased to $240.3 million, compared to $195.7 million in Q2 2021.
Net income attributable to REX shareholders from continuing operations was $11.2 million, compared to $5.7 million in Q2 2021.
Basic and diluted net income per share attributable to REX common shareholders was $0.63, compared to $0.44 in Q2 2021.
The company received COVID-19 relief grants of approximately $7.8 million and recognized $1.6 million in income related to its equity share of relief grants.
Forward Guidance
REX American Resources is confident in its ability to leverage resources and its balance sheet to take advantage of opportunities, including the carbon capture initiative.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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