REX American Resources says ‘weaker crush spread environment’ continues in Q1

As of January 31, REX had $359.1M of cash, cash equivalents, and short-term investments available and no bank debt. “During Fiscal Year 2024, REX American continued to provide value to shareholders in the form of profitable operations, properly positioning our growth strategy, and closely monitoring of policy at both the state and Federal levels,” said Zafar Rizvi, REX Chief Executive Officer. “Our continued financial success is due to our incredible team that lives and breathes the ethanol market every day. This is especially important in a weaker crush spread environment like we saw during the fourth quarter, and which has continued into first quarter 2025. As in the past, REX will continue to manage our business closely to deliver for our customers and shareholders. “Our two growth projects at our One Earth facility are progressing, and REX is managing both operational and cost aspects in an effort for each project to deliver on its growth prospects for the Company. The technical review underway at our ethanol expansion project is in line with our philosophy of prioritizing efficiency of operations across our plants. As the carbon capture and sequestration facility’s permitting moves forward, we are working to make sure that each project maximizes its growth potential and ultimately the bottom line,” concluded Mr. Rizvi.