The chart below shows how REX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, REX sees a -6.27% change in stock price 10 days leading up to the earnings, and a -4.62% change 10 days following the report. On the earnings day itself, the stock moves by +7.04%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Net Income Improvement: Rex American Resources achieved a net income per share of $1.38, reflecting a 97% improvement over the second quarter of 2024, primarily due to better corn pricing.
Gross Margin Improvement: Gross margin improved by 1% over the third quarter of 2023, despite a 21% reduction in product revenue, showcasing effective cost management.
Ethanol Sales Volume Increase: Ethanol sales volume increased to 75.5 million gallons in the third quarter of 2024, a 3% rise compared to 73.2 million gallons in the same quarter of 2023.
Gross Profit Increase: The company reported a gross profit of $39.7 million for the third quarter of 2024, up from $39.3 million in the third quarter of 2023, indicating strong operational performance.
Cash and Liquidity Management: Rex American Resources ended the quarter with total cash and cash equivalents of $365.1 million, compared to $378.7 million as of January 31, 2024, demonstrating solid liquidity management.
Negative
Gross Margin Improvement: Gross margin improved over the third quarter of 2023 by 1% despite a 21% reduction in product revenue.
Ethanol Price Comparison: Average selling price for our consolidated ethanol volume was $1.83 per gallon for the third quarter compared to $2.32 per gallon in the third quarter of 2023.
Dry Distillers Grains Sales Decline: Dry distillers grains sales volume during the third quarter of 2024 totaled 170,116 tons, a 5% decrease over third quarter 2023 volumes.
Average Selling Price Decline: Average selling price for the dry distiller grain was $147.14 per ton for the third quarter 2024 compared to $194.94 per ton in the third quarter of 2023.
Net Income Comparison: Net income attributable to REX shareholders for the third quarter was $24.5 million compared to $26.1 million in the third quarter of 2023.
REX American Resources Corporation (REX) Q3 2024 Earnings Call Transcript
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