Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 24

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 revenue 
    $158,340  
    $161,231 

    Cost of sales 

    Ethanol and by-products: 

    Cost of corn 
    $280,365  
    $292,680 

    Other cost of sales (1) 
     121,686  
     108,824 

    Reconciling Item: Equity method ethanol investment 
     (258,053) 
     (254,724)

    Total cost of sales 
    $143,998  
    $146,780 

    Gross profit 

    Ethanol and by-products 
    $28,592  
    $32,713 

    Reconciling Item: Equity method ethanol investment 
     (14,250) 
     (18,262)

    Total consolidated gross profit 
    $14,342  
    $14,451 

    Depreciation and amortization expense 

    Ethanol and by-products 
    $10,239  
    $14,556 

    Reconciling Item: Equity method ethanol investment 
     (5,220) 
     (8,664)

    Total consolidated depreciation and amortization expense 
    $5,019  
    $5,892 

    Income before taxes 

    Ethanol and by-products 
    $25,362  
    $35,125 

    Reconciling Item: Equity method ethanol investment 
     (11,736) 
     (19,162)

    Total consolidated income before income taxes 
     13,626  
     15,963 

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

    Total consolidated net income 
    $10,672  
    $12,273 

(1)Expenses within “Other cost of sales” consist primarily
                                                            of depreciation, other raw materials, third-party freight charges,
                                                            purchasing and receiving costs, inspection costs, other distribution
                                                            expenses, warehousing costs, plant repair and maintenance costs, production
                                                            labor and related payroll costs, and general facility overhead charges.

24

Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations

Ethanol and By-Products

At April 30, 2025, we had investments in
three ethanol limited liability companies, in two of which we have a majority ownership interest