$REX

REX AMERICAN RESOURCES Corp

CIK:0000744187|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Consolidated Statements of Operations [Abstract]
Net sales and revenue	$ 168,493	$ 158,563	$ 324,992	$ 316,903
Production tax credit income	18,410	0	25,959	0
Cost of sales (includes $21,243 and $29,004 with related parties for the three months ended July 31, 2026 and 2025, respectively, and $40,083 and $53,853 with related parties for the six months ended July 31, 2026 and 2025, respectively.)	133,603	144,244	268,580	288,242
Gross profit	53,300	14,319	82,371	28,661
Selling, general and administrative expenses	(15,622)	(6,201)	(25,350)	(12,145)
Equity in income of unconsolidated affiliates	7,195	891	10,761	1,897
Interest and other income, net	3,245	3,088	6,451	7,310
Income before income taxes	48,118	12,097	74,233	25,723
Provision for income taxes	(7,472)	(2,769)	(11,909)	(5,723)
Net income	40,646	9,328	62,324	20,000
Net income attributable to noncontrolling interests	(5,702)	(2,217)	(8,928)	(4,211)
Net income attributable to REX common shareholders	$ 34,944	$ 7,111	$ 53,396	$ 15,789
Weighted average shares outstanding – basic (in Shares)	33,090	33,010	33,019	33,388
Weighted average shares outstanding – diluted (in Shares)	33,090	33,010	33,019	33,388
Basic net income per share attributable to REX common shareholders (in Dollars per share)	$ 1.06	$ 0.22	$ 1.62	$ 0.47
Diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 1.06	$ 0.22	$ 1.62	$ 0.47

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net income	$ 62,324	$ 20,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	8,902	7,101
Noncash operating lease expense	3,499	3,197
Amortization of finance lease right-of-use assets	949	475
Stock-based compensation expense	6,005	1,022
Income from equity method investments	(10,761)	(1,897)
Dividends received from equity method investments	2,005	2,506
Interest income from investments	(4,338)	(2,999)
Loss on disposal of property and equipment – net	131	172
Deferred income taxes	7,362	4,293
Changes in assets and liabilities:
Accounts receivable	(8,797)	(3,317)
Inventory	(558)	44
Prepaid expenses and other	(27,269)	(583)
Refundable income taxes	3,771	(2,022)
Accounts payable – trade	(1,278)	(9,896)
Long-term taxes payable	0	226
Accrued expenses and other liabilities	(3,924)	(5,514)
Net cash provided by operating activities	38,023	12,808
Cash flows from investing activities:
Capital expenditures	(34,977)	(28,924)
Purchases of short-term investments	(320,800)	(90,671)
Maturities of short-term investments	224,000	187,000
Proceeds from disposal of real estate and property and equipment	299	0
Deposits	(17)	128
Net cash (used in) provided by investing activities	(131,495)	67,533
Cash flows from financing activities:
Treasury stock acquired	(1,581)	(33,382)
Noncontrolling interests distributions and other	(2,228)	(2,252)
Principal paid on finance lease liabilities	(125)	0
Net cash used in financing activities	(3,934)	(35,634)
Net (decrease) increase in cash and cash equivalents	(97,406)	44,707
Cash and cash equivalents, beginning of period	188,734	196,255
Cash and cash equivalents, end of period	91,328	240,962

Non-cash investing activities – Accrued capital expenditures	4,923	694
Non-cash investing activities – Capital additions transferred from prepaid expenses	123	536
Non-cash financing activities – Stock awards accrued	1,958	559
Non-cash financing activities – Stock awards issued	7,044	2,036
Non-cash financing activities – Excise tax on stock repurchases accrued	0	258
Operating right-of-use assets acquired and liabilities incurred upon lease commencement	0	3,007
Finance right-of-use assets acquired and liabilities incurred upon lease commencement	$ 0	$ 3,381

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 31, 2026
Current assets:
Cash and cash equivalents	$ 91,328	$ 188,734
Short-term investments	288,186	187,048
Accounts receivable	23,479	14,682
Inventory	28,980	28,422
Refundable income taxes	8,602	12,374
Prepaid expenses and other	17,502	16,568
Total current assets	458,077	447,828
Property and equipment, net	293,962	272,029
Operating lease right-of-use assets	14,095	17,594
Finance lease right-of-use assets	16,609	17,558
Other assets	27,218	4,963
Equity method investment	46,515	37,759
Total assets	856,476	797,731
Current liabilities:
Accounts payable – trade (includes $988 and $1,195 with related parties at July 31, 2026 and January 31, 2026, respectively)	36,687	38,400
Current operating lease liabilities	7,014	6,921
Current finance lease liabilities	469	469
Accrued expenses and other current liabilities	22,368	29,587
Total current liabilities	66,538	75,377
Long-term liabilities:
Deferred taxes	7,443	4,065
Long-term operating lease liabilities	7,730	11,148
Long-term finance lease liabilities	2,606	2,731
Other long-term liabilities	545	2,405
Total long-term liabilities	18,324	20,349
REX shareholders’ equity:
Common stock	332	329
Paid in capital	11,157	66
Retained earnings	663,713	610,317
Treasury stock	(1,581)	0
Total REX shareholders’ equity	673,621	610,712
Noncontrolling interests	97,993	91,293
Total equity	771,614	702,005
Total liabilities and equity	$ 856,476	$ 797,731