REX American Resources reports $7.5 million from 45Z tax credits and strong liquidity amid ethanol expansion plans.
REX American Resources Corporation reported its highest first-quarter net income per share in company history, driven by $7.5 million in Section 45Z production tax credits and lower corn prices. The company marked its 23rd consecutive profitable quarter, attributing results to operational efficiency and favorable market conditions.
Cash reserves stood at $364.3 million with no bank debt, supporting organic growth initiatives. The company adopted new accounting principles to recognize tax credits as operating income, boosting quarterly earnings.
Management confirmed an ethanol facility expansion at Gibson City remains on track for late 2026 completion. A carbon pipeline application is expected after Illinois’ moratorium lifts on July 1, 2026.