REX American Resources Q2 Profit Declines

(RTTNews) - REX American Resources Corp. (REX) on Wednesday reported that second-quarter net income attributable to REX common shareholders declined to $9.06 million or $0.52 per share from $11.17 million or $0.63 per share in the prior-year quarter.

Net sales and revenue for the quarter decreased to $211.98 million from $240.33 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share on revenues of $195.14 million for the quarter. Analysts' estimates typically exclude special items.

The year-over-year net sales and revenue decline primarily reflects a reduction in the quantities sold of ethanol, as well as lower prices for ethanol, dried and modified distillers grains, and corn oil.

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