REX American Resources Reports $29.1 Million Q1 Gross Profit; $7.5 Million Tax Credits
REX•REX American Resources posted its most profitable first quarter with $7.5 million in production tax credits and $29.1 million gross profit, marking its 23rd straight profitable quarter. The firm held $364.3 million in cash, maintained zero bank debt and advanced its Gibson City ethanol expansion and carbon capture permitting.
1. Q1 Record Profitability and Tax Credits
REX American Resources achieved its highest-ever first-quarter profitability, recording $29.1 million in gross profit compared to $14.3 million a year earlier. The company also recognized $7.5 million in production tax credits, contributing significantly to its net income per share performance.
2. Strong Balance Sheet and Debt Position
As of the end of Q1 2026, the firm held $364.3 million in cash and short-term investments and carried no bank debt, underscoring its robust financial position and liquidity to fund ongoing operations and capital projects.
3. Progress on Growth Initiatives
The Gibson City ethanol facility expansion remains on schedule for completion by year-end 2026, while the carbon capture and sequestration project is advancing through the Class VI injection well permitting process, with regulatory filings targeted shortly after the state moratorium lifts on July 1, 2026.
