Rex American Resources(NYSE) REX

REX makes fuel from corn to power cars and trucks. The company also produces high-protein feed for farm animals. It helps farmers find a market for their corn crops.

Fueling More Than Just Cars

• Ethanol: Renewable fuel blended into gasoline to reduce vehicle emissions; accounted for $119.9 million of net sales in the first quarter of 2026.
• Dried Distillers Grains: High-protein animal feed made from leftover corn solids after fermentation; represented $24.2 million of net sales in the first quarter of 2026.
• Distillers Corn Oil: Oil extracted during production used for renewable diesel or livestock feed; made up $13.0 million of net sales in the first quarter of 2026.
• Modified Distillers Grains: Wet animal feed with a higher moisture content than dried versions; accounted for $1.0 million of net sales in the first quarter of 2026.

Building a Lower Carbon Future

• Expanded the One Earth Energy plant capacity from 150 million gallons to a target of 175 million gallons per year.
• Applied for permits from the United States Environmental Protection Agency (EPA) to build a carbon sequestration facility near the One Earth plant.
• Entered an agreement with Summit Carbon Solutions to transport and store carbon dioxide from the NuGen Energy facility through a regional pipeline.
• Purchased a refined coal facility in 2017 to utilize federal tax credits before the plant ceased operations in 2021.

Efficiency in the Corn Belt

REX operates high-efficiency plants that process corn into fuel and feed while capturing carbon dioxide to lower its carbon intensity scores. The company utilizes a network of rail and truck shipments to distribute products to regional and international markets.

A Look at the Books

• Net income attributable to REX common shareholders rose to $18.5 million in the first quarter of 2026, up 112.6% year-over-year.
• Gross profit reached $29.1 million in the first quarter of 2026, a 102.7% increase from the $14.3 million reported in the first quarter of 2025.
• Operating cash flow was -$2.1 million in the first quarter of 2026, which narrowed and improved from -$3.5 million during the same period in 2025.
• Free cash flow hit -$13.7 million in the first quarter of 2026, which deepened and worsened from -$10.4 million in the first quarter of 2025.

Evolution and Focus

REX has successfully shifted its focus from retail operations to becoming a specialized producer of renewable energy and agricultural products. By investing in carbon capture and plant expansions, the company is aligning its operations with the growing demand for low-carbon fuels.