Rex American Resources Files Q3 2024 10-Q
Ticker: REX · Form: 10-Q · Filed: Aug 30, 2024 · CIK: 744187
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
REX 10-Q filed for Q3 2024. Financials and ops update.
AI Summary
Rex American Resources Corporation filed its 10-Q for the quarterly period ended July 31, 2024. The company, incorporated in Delaware, operates in the Industrial Organic Chemicals sector. Its principal executive offices are located at 7720 Paragon Road, Dayton, Ohio.
Why It Matters
This filing provides investors with an update on Rex American Resources' financial performance and operational status for the third quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.
Key Numbers
- 001-09097 — SEC File Number (Identifies the company's filing with the SEC.)
- 31-1095548 — IRS Number (Company's Employer Identification Number.)
Key Players & Entities
- REX AMERICAN RESOURCES Corp (company) — Registrant
- 0000930413-24-002683 (other) — Accession Number
- 20240731 (date) — Quarterly period end date
- 20240830 (date) — Filing date
- 7720 Paragon Road, Dayton, Ohio (location) — Principal executive offices
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 July 31, 2024.
Where are Rex American Resources Corporation's principal executive offices located?
The principal executive offices of Rex American Resources Corporation are located at 7720 Paragon Road, Dayton, Ohio.
What is the company's state of incorporation?
Rex American Resources Corporation is 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.
Filing Stats: 4,502 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-08-30 12:44:46
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value REX New York Stock Exchange
Filing Documents
- c109728_10q-ixbrl.htm (10-Q) — 709KB
- c109728_ex10.htm (EX-10) — 27KB
- x1_c109728x39x1.jpg (GRAPHIC) — 11KB
- x1_c109728x41x1.jpg (GRAPHIC) — 6KB
- x1_c109728x41x2.jpg (GRAPHIC) — 7KB
- c109728_ex31.htm (EX-31) — 16KB
- c109728_ex32.htm (EX-32) — 3KB
- 0000930413-24-002683.txt ( ) — 4320KB
- rex-20240731.xsd (EX-101.SCH) — 55KB
- rex-20240731_cal.xml (EX-101.CAL) — 44KB
- rex-20240731_def.xml (EX-101.DEF) — 194KB
- rex-20240731_lab.xml (EX-101.LAB) — 389KB
- rex-20240731_pre.xml (EX-101.PRE) — 207KB
- c109728_10q-ixbrl_htm.xml (XML) — 470KB
Financial Statements
Financial Statements Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Equity 5 Consolidated Statements of Cash Flows 7
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 8 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 35 Item 4.
Controls and Procedures
Controls and Procedures 35 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 36 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37 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) July 31, January 31, 2024 2024 Assets Current assets: Cash and cash equivalents $ 261,040 $ 223,397 Short-term investments 84,942 155,260 Accounts receivable 24,262 23,185 Inventory 29,162 26,984 Refundable income taxes 5,272 5,728 Prepaid expenses and other 14,236 17,549 Total current assets 418,914 452,103 Property and equipment, net 190,188 155,587 Operating lease right-of-use assets 13,221 13,038 Other assets 19,285 9,138 Equity method investment 38,401 34,936 Total assets $ 680,009 $ 664,802 Liabilities and equity Current liabilities: Accounts payable – trade (includes $ 1.0 million and $ 5.8 million with related parties at July 31, 2024 and January 31, 2024, respectively) $ 31,254 $ 42,073 Current operating lease liabilities 3,482 4,469 Accrued expenses and other current liabilities 17,173 19,717 Total current liabilities 51,909 66,259 Long-term liabilities: Deferred taxes 1,598 1,598 Long-term operating lease liabilities 9,716 8,378 Other long-term liabilities 600 970 Total long-term liabilities 11,914 10,946 Equity REX shareholders' equity: Common stock 299 299 Paid-in capital 5,961 3,769 Retained earnings 724,330 701,761 Treasury stock ( 190,957 ) ( 191,911 ) Total REX shareholders' equity 539,633 513,918 Noncontrolling interests 76,553 73,679 Total equity 616,186 587,597 Total liabilities and equity $ 680,009 $ 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 Six Months Ended July 31, July 31, 2024 2023 2024 2023 Net sales and revenue $ 148,155 $ 211,9