REX American Resources reported its highest-ever second-quarter net income per share of $1.06, driven by stronger crush margins and $18.4 million in 45Z production tax credits, and announced a key regulatory milestone for its carbon capture project. Net income attributable to shareholders reached $34.9 million, up from $7.1 million a year earlier, while gross profit surged to $53.3 million from $14.3 million. The company also received draft Class 6 well permits from the US EPA for its 1 Earth carbon capture project, and the Illinois moratorium on carbon sequestration expired on July 1, allowing the company to pursue state permits. Management expects the ethanol expansion at 1 Earth to come online by the end of 2026, with combined investment in expansion and carbon capture totaling $191 million. REX ended the quarter with $380 million in cash and no bank debt, and anticipates third-quarter results will exceed the prior year's period.
REX American Resources CorporationRecord Q2 EPS and strong financials reported.
