Rex American Resources Files Q1 2024 10-Q
Ticker: REX · Form: 10-Q · Filed: May 30, 2024 · CIK: 744187
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
REX filed its 10-Q for April 30, 2024. Check financials.
AI Summary
Rex American Resources Corporation filed its 10-Q for the quarterly period ended April 30, 2024. The company, incorporated in Delaware, operates in the Industrial Organic Chemicals sector. This filing provides an update on its financial performance and operations for the specified period.
Why It Matters
This filing provides investors with crucial financial and operational updates for Rex American Resources, impacting investment decisions and market perception.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently indicate new or elevated risks.
Key Players & Entities
- REX AMERICAN RESOURCES CORPORATION (company) — Registrant
- April 30, 2024 (date) — Quarterly period end date
- Delaware (location) — State of incorporation
- 001-09097 (other) — SEC File Number
FAQ
What is the primary business of Rex American Resources Corporation?
Rex American Resources Corporation is primarily involved in the Industrial Organic Chemicals sector, as indicated by its SIC code [2860].
For what period is this 10-Q report filed?
This 10-Q report is filed for the quarterly period ended April 30, 2024.
In which state was Rex American Resources Corporation incorporated?
Rex American Resources Corporation was incorporated in Delaware.
What is the SEC file number for Rex American Resources Corporation?
The SEC file number for Rex American Resources Corporation is 001-09097.
What is the company's fiscal year end?
The company's fiscal year ends on January 31.
Filing Stats: 4,474 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-05-30 16:14:32
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value REX New York Stock Exchange
Filing Documents
- c109056_10q-ixbrl.htm (10-Q) — 529KB
- c109056_ex31.htm (EX-31) — 16KB
- c109056_ex32.htm (EX-32) — 3KB
- 0000930413-24-001828.txt ( ) — 3945KB
- rex-20240430.xsd (EX-101.SCH) — 55KB
- rex-20240430_cal.xml (EX-101.CAL) — 43KB
- rex-20240430_def.xml (EX-101.DEF) — 193KB
- rex-20240430_lab.xml (EX-101.LAB) — 386KB
- rex-20240430_pre.xml (EX-101.PRE) — 206KB
- c109056_10q-ixbrl_htm.xml (XML) — 403KB
Financial Statements
Financial Statements Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Equity 5 Consolidated Statements of Cash Flows 6
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.
Controls and Procedures
Controls and Procedures 33 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35 2
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets Unaudited (In Thousands) April 30, January 31, 2024 2024 Assets Current assets: Cash and cash equivalents $ 231,200 $ 223,397 Short-term investments 120,564 155,260 Accounts receivable 21,535 23,185 Inventory 27,100 26,984 Refundable income taxes 4,586 5,728 Prepaid expenses and other 16,628 17,549 Total current assets 421,613 452,103 Property and equipment, net 179,024 155,587 Operating lease right-of-use assets 11,561 13,038 Other assets 22,167 9,138 Equity method investment 36,654 34,936 Total assets $ 671,019 $ 664,802 Liabilities and equity Current liabilities: Accounts payable – trade (includes $ 1.9 million and $ 5.8 million with related parties at April 30, 2024 and January 31, 2024, respectively) $ 43,216 $ 42,073 Current operating lease liabilities 3,724 4,469 Accrued expenses and other current liabilities 15,760 19,717 Total current liabilities 62,700 66,259 Long-term liabilities: Deferred taxes 1,598 1,598 Long-term operating lease liabilities 7,729 8,378 Other long-term liabilities 593 970 Total long-term liabilities 9,920 10,946 Equity: REX shareholders' equity: Common stock 299 299 Paid-in capital 4,064 3,769 Retained earnings 711,952 701,761 Treasury stock ( 191,848 ) ( 191,911 ) Total REX shareholders' equity 524,467 513,918 Noncontrolling interests 73,932 73,679 Total equity 598,399 587,597 Total liabilities and equity $ 671,019 $ 664,802 The accompanying notes are an integral part of these unaudited consolidated financial statements . 3 REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations Unaudited (In Thousands, Except Per Share Amounts) Three Months Ended April 30, 2024 2023 Net sales and revenue $ 161,231 $ 212,714 Cost of sales (includes $ 30,