Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 33

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 and 2022, respectively. In 2024
and 2023, an estimated 12.2 and 10.8 million metric tons, respectively, of distillers grains were exported from the United States,
which represented approximately 37% and 34% in 2024 and 2023, respectively, of U.S production. There has been much discussion
around proposed and recently enacted tariffs by the United States and counter-tariffs and other trade restriction involving countries
which have been large purchasers from our industry in the United States which could affect future demand for these products.

The trends and uncertainties mentioned
above could impact our future operating results in both positive and negative ways.

Comparison of Three Months Ended April 30, 2025 and 2024

The following table summarizes our results
from operations (amounts in thousands):

    Three Months Ended April 30,

    2025
     
    2024

    Net sales and revenue
    $
    158,340
     
    $
    161,231

    Cost of sales
     
    143,998

    146,780

    Gross profit
    $
    14,342
     
    $
    14,451

    Income before income taxes
    $
    13,626

    $
    15,963

    Provision for income taxes
    $
     (2,954)
     
    $
     (3,690)

    Net income attributable to REX common shareholders
    $
    8,678

    $
    10,191

30

The following table summarizes net sales
and revenue by product group (amounts in thousands):

    Three Months Ended April 30,

    2025
     
    2024

    Ethanol
    $
    124,397
     
    $
    119,427

    Dried distillers grains
     
    22,286

    30,686

    Distillers corn oil
     
    9,879

    9,805

    Modified distillers grains
     
    1,623

    1,197

    Derivative financial instruments gains
     
    17

    -

    Other
     
    138

    116

    Total
    $
    158,340
     
    $
    161,231

The following table summarizes selected