Company: REX
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0000930413-25-002856
Chunk: 85

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-09-02
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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,560  
    $46,779  
    $74,685 
  
    Reconciling Item: Equity method ethanol investment 
     (9,320) 
     (20,064) 
     (21,056) 
     (39,226)
  
    Total consolidated income before income taxes 
     12,097  
     19,496  
     25,723  
     35,459 
  
    Provision for income taxes 
     (2,769) 
     (4,489) 
     (5,723) 
     (8,179)
  
    Total consolidated net income 
    $9,328  
    $15,007  
    $20,000  
    $27,280 

    (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. 

25

Note 16. Subsequent Events

On August 26, 2025, the Board of Directors of the Company
adopted resolutions declaring a two-for-one split of the Company’s Common Stock to be effectuated in the form of a 100% stock dividend,
payable on September 15, 2025 to stockholders of record at the close of business on September 8, 2025.

The following table sets forth the pro forma impact
of the split on reported earnings per share:

    (In Thousands, Except Per Share Amounts)

    Three Months Ended

    Six Months Ended

    July 31,
    July 31,

         2025
        2024
        2025
        2024

     Net income attributable to REX common shareholders
    $  7,111
    $ 12,378
    $ 15,789
    $ 22,569

    Pro forma weighted average shares outstanding – basic
      33,010
     35,095
     33,388
     35,055

      Pro forma basic net income per share attributable to REX common shareholders
       $ 0.22
       $ 0.35
       $ 0.47
       $ 0.64