REX American Resources (REX) Beats Q2 EPS Expectations

REX American Resources (NYSE: REX) reported Q2 EPS of $2.68, $0.63 better than the analyst estimate of $2.05. Revenue for the quarter came in at $150.2 million versus the consensus estimate of $147 million.

REX CEO, Stuart Rose, commented, “Favorable market dynamics combined with the efficiency of our plants, led to record second quarter net income and diluted EPS. The second quarter results further strengthened our already solid financial foundation, as cash and cash equivalents rose 45% to approximately $152.2 million, compared to the fiscal 2013 year-end levels six months prior.

“During the second quarter, we also made significant strides in further improving our balance sheet and liquidity as we continued to allocate cash from operations to reduce consolidated plant-level debt by 18% to approximately $62 million versus January 31, 2014, lowering our interest expense by over 42%, compared to Q2 ‘13, and bringing our debt-to-capital ratio to a healthy 16%, versus 21% at January 31, 2014.”

For earnings history and earnings-related data on REX American Resources (REX) click here.

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