REX AMERICAN RESOURCES Corp Files Annual Report on Form 10-K

TL;DR

<b>REX AMERICAN RESOURCES Corporation has filed its annual 10-K report for the fiscal year ended January 31, 2024, detailing its corporate information and compliance status.</b>

AI Summary

REX AMERICAN RESOURCES Corp (REX) filed a Annual Report (10-K) with the SEC on March 29, 2024. REX AMERICAN RESOURCES Corporation filed its annual report on Form 10-K for the fiscal year ended January 31, 2024. The company is incorporated in Delaware and its principal executive offices are located at 7720 Paragon Road, Dayton, Ohio. REX AMERICAN RESOURCES Corporation's common stock is traded on the New York Stock Exchange under the ticker symbol REX. The company has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. REX AMERICAN RESOURCES Corporation has submitted electronically every Interactive Data File required for the preceding 12 months.

Why It Matters

For investors and stakeholders tracking REX AMERICAN RESOURCES Corp, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational status for the past fiscal year, crucial for investors to assess its current standing. As an accelerated filer, the company's adherence to SEC reporting requirements, including electronic submission of data, indicates a level of transparency and regulatory compliance expected by the market.

Risk Assessment

Risk Level: low — REX AMERICAN RESOURCES Corp shows low risk based on this filing. The filing is a standard 10-K report, indicating routine disclosure and compliance rather than significant new risks or events.

Analyst Insight

Review the full 10-K filing to understand REX AMERICAN RESOURCES Corporation's financial health, operational segments, and future outlook for investment decisions.

Key Numbers

• 20240131 — Fiscal Year End (Conformed period of report)
• 20240329 — Filing Date (Filed as of date)
• 001-09097 — Commission File Number (SEC File Number)
• 31-1095548 — IRS Number (IRS Employer Identification No.)

Key Players & Entities

• REX AMERICAN RESOURCES Corporation (company) — Registrant
• January 31, 2024 (date) — Fiscal year ended
• Delaware (jurisdiction) — State of incorporation
• 7720 Paragon Road, Dayton, Ohio (address) — Principal executive offices
• REX (ticker) — Trading Symbol
• New York Stock Exchange (exchange) — Name of each exchange on which registered
• United States Securities and Exchange Commission (regulator) — Filing authority
• 20240329 (date) — Filing date

FAQ

Industry Context

REX AMERICAN RESOURCES Corporation operates within the industrial organic chemicals sector, as indicated by its SIC code.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements and management's discussion and analysis within the 10-K for detailed performance insights.
2. Review any disclosed risk factors or legal proceedings to understand potential challenges.
3. Compare key financial metrics with previous years and industry peers to gauge relative performance.

Key Dates

• 2024-01-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-29: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending January 31, 2024, following the standard reporting schedule.

Key Financial Figures

• $60.9 million — ributable to REX common shareholders of $60.9 million in fiscal 2023 compared to approximatel
• $27.7 million — n fiscal 2023 compared to approximately $27.7 million in fiscal 2022. Our ethanol business ha
• $4.40 — prices per bushel ranged from a low of $4.40 in January 2024 to a high of $6.85 in F
• $6.85 — w of $4.40 in January 2024 to a high of $6.85 in February 2023. S&P Global Platts eth
• $1.52 — pricing per gallon ranged from a low of $1.52 in January 2024 to a high of $2.67 in J
• $2.67 — w of $1.52 in January 2024 to a high of $2.67 in June 2023. The form and structure o
• $12.0 m — 35% owned subsidiary, for approximately $12.0 million, the entire ownership interest of
• $0.02 — h established a credit of approximately $0.02 per ethanol gallon per CI 5 point red
• $165 million — t of these projects to be approximately $165 million to $175 million, which we currently pla
• $175 m — cts to be approximately $165 million to $175 million, which we currently plan to pay f
• $25.8 million — h. As of January 31, 2024, we had spent $25.8 million since inception and were contractually
• $22.6 million — tually committed to spend an additional $22.6 million toward the carbon sequestration project
• $12.8 million — t. As of January 31, 2024, we had spent $12.8 million since inception and were contractually
• $12.3 million — tually committed to spend an additional $12.3 million toward plant capacity expansion and ong

Filing Documents

• c108550_10k-ixbrl.htm (10-K) — 982KB
• x1_c108550a001.jpg (GRAPHIC) — 118KB
• c108550_ex21.htm (EX-21) — 15KB
• c108550_ex23a.htm (EX-23.(A)) — 2KB
• c108550_ex23b.htm (EX-23.(B)) — 2KB
• c108550_ex31.htm (EX-31) — 17KB
• c108550_ex32.htm (EX-32) — 3KB
• c108550_ex97.htm (EX-97.1) — 37KB
• 0000930413-24-001186.txt (&nbsp;) — 6812KB
• rex-20240131.xsd (EX-101.SCH) — 74KB
• rex-20240131_cal.xml (EX-101.CAL) — 72KB
• rex-20240131_def.xml (EX-101.DEF) — 280KB
• rex-20240131_lab.xml (EX-101.LAB) — 546KB
• rex-20240131_pre.xml (EX-101.PRE) — 279KB
• c108550_10k-ixbrl_htm.xml (XML) — 843KB

Business

Item 1. Business References to "we", "us", "our", "REX" or "the Company" refer to REX American Resources Corporation and its majority owned subsidiaries. Fiscal Year All references in this report to a particular fiscal year are to REX's fiscal year ended January 31. We refer to our fiscal year by reference to the year immediately preceding the January 31 fiscal year end date. For example, "fiscal year 2023" means the period February 1, 2023 to January 31, 2024. Corporate History and Background REX was incorporated in Delaware in 1984 as a holding company. Our principal offices are located at 7720 Paragon Road, Dayton, Ohio 45459. Our telephone number is (937) 276-3931. In 2006, we started investing in ethanol production facilities. We are currently invested in three ethanol production entities – One Earth Energy, LLC ("One Earth"), NuGen Energy, LLC ("NuGen"), and Big River Resources, LLC ("Big River"). We own a majority interest in One Earth and NuGen. We also own a majority interest in an entity that owned and, until November 18, 2021, operated a refined coal facility. As we have 3 ceased operating the refined coal facility, we began classifying the financial results of the operating segment as discontinued operations. We now have one reportable segment, ethanol and by-products. General Overview We reported net income attributable to REX common shareholders of $60.9 million in fiscal 2023 compared to approximately $27.7 million in fiscal 2022. Our ethanol business had increased profits in fiscal 2023 compared to fiscal 2022 as a result of higher crush spreads in fiscal 2023. The two largest drivers of ethanol profitability are corn and ethanol pricing, both of which experienced significant volatility within the year. Chicago Board of Trade corn prices per bushel ranged from a low of $4.40 in January 2024 to a high of $6.85 in February 2023. S&P Global Platts ethanol pricing per gallon ranged from a low of $1.52 in January 2024 to a high of $2.67 in J

Risk Factors

Item 1A. Risk Factors We encourage you to carefully consider the risks described below and other information contained in this report when considering an investment decision in REX common stock. Any of the events discussed in the risk factors below may occur. If one or more of these events do occur, our results of operations, financial condition or cash flows could be materially adversely affected. In this instance, the trading price of REX stock could decline, and investors might lose all or part of their investment. Risks Related to our Ethanol and By-Products

Business

Business The ethanol industry is changing rapidly which could result in unexpected developments that could negatively impact our operations. According to the RFA, the ethanol industry grew from approximately 1.5 billion gallons of domestic annual ethanol production in 1999 to a peak of approximately 16.1 billion gallons in 2018. In 2023 and 2022, the industry produced approximately 15.6 and 15.4 billion gallons, respectively, with the reduction from the peak year reflecting industry conditions and reduced demand. Thus, there have been significant changes in the supply and demand of ethanol over a relatively short period of time which c

View Full Filing

View this 10-K filing on SEC EDGAR