This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

REX American Resources Fiscal Second Quarter Diluted EPS Rise Seven-Fold To A Record $0.71 As Q2’13 Net Income Increases To $5.8 Million From $0.8 Million

Stocks in this article: REX

REX American Resources Corporation (NYSE:REX) today reported financial results for its fiscal 2013 second quarter (“Q2 ‘13”) ended July 31, 2013. REX management will host a conference call and webcast today at 11:00 a.m. ET.

 

Conference Call:

      (212) 271-4651
 

Webcast / Replay URL:

www.rexamerican.com/Corp/Page4.aspx

 
        The webcast will be available for replay for 30 days
 

REX American Resources’ Q2 ‘13 results principally reflect its alternative energy segment interests in seven ethanol production facilities. The operations of One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) are consolidated, while those of its five other plants are reported as equity in income of unconsolidated ethanol affiliates.

Reflecting improved ethanol crush spread margins since the beginning of calendar 2013 as well as higher year-over-year prices for ethanol and dried and modified distillers grains, Q2 ‘13 net income attributable to REX shareholders rose 623% to $5.8 million, compared with $0.8 million in Q2 ‘12, while Q2 ’13 diluted net income per share attributable to REX common shareholders rose 610% to $0.71, from $0.10 in Q2 ’12.

REX’s Q2 ‘13 net sales and revenue rose 15% to $175.7 million, from $153.2 million in Q2 ’12. Reflecting the improved ethanol production industry environment, REX generated gross profit of $11.0 million in Q2’ 13, compared with $7.0 million in Q2’ 12. In Q2 ‘13, equity in income of unconsolidated ethanol affiliates rose to $4.6 million, compared with a $0.5 million loss in Q2 ‘12. REX’s Q2 ‘13 income from continuing operations before income taxes and non-controlling interests was $10.4 million, compared with $1.7 million in Q2 ’12. Q2 ’13 income from continuing operations attributable to REX shareholders net of tax was $5.8 million, or $0.71 per diluted share, compared with $0.7 million, or $0.08 per diluted share, in Q2 ’12. Per share results in Q2 ‘13 and Q2 ‘12 are based on 8,204,000 and 8,385,000 diluted weighted average shares outstanding, respectively.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs