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REX American Resources Reports Fiscal Second Quarter 2025 Net Income Per Share Attributable to REX Common Shareholders of $0.43

Company announces 2-for-1 stock split

• Generated $0.43 of net income per share in Fiscal Q2 鈥�25
• Reported gross profit of $14.3 million for Fiscal Q2 鈥�25
• Reported net sales and revenue of $158.6 million for Fiscal Q2 鈥�25
• Reported consolidated ethanol sales volumes of 70.6 million gallons for Fiscal Q2 鈥�25
• Ethanol expansion project moving forward with completion still expected in 2026

DAYTON, Ohio--(BUSINESS WIRE)-- REX American Resources Corporation (鈥淩EX鈥� or the 鈥淐ompany鈥�) (NYSE: REX), a leading ethanol production company, today announced financial and operational results for the Company鈥檚 fiscal second quarter 2025. The Company also announced a 2-for-1 stock split for shareholders of record as of September 8, 2025.

REX American Resources鈥� fiscal second quarter 2025 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (鈥淥ne Earth鈥�) and NuGen Energy, LLC (鈥淣uGen鈥�) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated affiliates.

Second Quarter 2025 Results

REX reported Q2 鈥�25 net sales and revenue of $158.6 million, compared to Q2 鈥�24 net sales and revenue of $148.2 million. The year-over-year net sales and revenue increase primarily reflects higher volumes, in spite of lower ethanol and dried distiller grain pricing in comparison to the same period in 2024. Second quarter 2025 gross profit for the Company was $14.3 million, compared with $19.8 million in Q2 鈥�24. The Company reported interest and other income of $3.1 million in Q2 鈥�25, compared to $4.4 million in Q2 鈥�24. This led to Q2 鈥�25 income before income taxes and noncontrolling interests of $12.1 million, compared with $19.5 million in Q2 鈥�24.

Net income attributable to REX shareholders in Q2 鈥�25 was $7.1 million, compared to $12.4 million in Q2 鈥�24. Second quarter 鈥�25 diluted net income per share attributable to REX common shareholders was $0.43, compared to $0.70 per share in Q2 鈥�24. Per share results for Q2 鈥�25 and Q2 鈥�24 are based on 16,505,000 and 17,671,000 diluted weighted average shares outstanding, respectively.

Update on One Earth Energy Ethanol Production Expansion and Carbon Capture Projects

REX has made progress on the expansion of ethanol production at the One Earth facility. The previously mentioned energy efficiency initiative has been completed. Project completion is still anticipated in 2026.

As previously discussed, REX substantially completed construction of the capture and compression portions of its One Earth carbon capture and sequestration project at the Company鈥檚 Gibson City, Illinois location during Fiscal Year 2024. Currently, the Environmental Protection Agency (EPA) Class VI injection well permitting process is ongoing. Final permitting decision for the sequestration portion of the project is expected to be completed in March 2026, moved forward from the previously expected timeline of April 2026, according to the published EPA timeline.

Capital expenditures at the end of the second quarter related to the One Earth carbon capture and sequestration project and related expansion of ethanol production capacity at the Gibson City location totaled $126.7 million. The Company鈥檚 combined budget for completion of the projects is $220-$230 million.

Stock Split

Today, the Company announced that its Board of Directors has declared a 2-for-1 split of its Common Stock to be effected as a 100 percent (100%) Common Stock dividend.

The dividend is payable September 15, 2025, to shareholders of record as of the close of business on September 8, 2025. Shareholders will receive one additional share of Common Stock for every share held on the record date. As a result of the stock split, REX American Resources鈥� outstanding shares of Common Stock will increase from 16,528,787 at present, to 33,057,574 shares.

Taking into effect the planned stock split, effective at the close of business on September 8, 2025, the number of shares of Common Stock previously authorized by the Board of Directors for repurchase will be increased by 100 percent (100%) to 2,357,186 shares.

Balance Sheet

As of July 31, 2025, REX had $310.5 million of cash, cash equivalents, and short-term investments available and no bank debt.

Management Commentary

鈥淭he second quarter continued REX鈥檚 excellent track record in delivering value to shareholders, and marked our 20th consecutive quarter of positive earnings,鈥� said Zafar Rizvi, Chief Executive Officer of REX. 鈥淥ur ethanol expansion project remains on schedule for completion in 2026, further positioning us to deliver sustained long-term shareholder value. As we look forward to the remainder of the year, we are confident in the market forces supporting our core ethanol business and remain committed to our focus on maintaining and expanding our value proposition for investors. We are pleased with the extension of the provisions for 45Z and 45Q tax credits in the One Big Beautiful Bill Act, and the potential positive impact on our business moving forward.

鈥淭oday鈥檚 announcement of our stock split reflects the confidence we have in the go-forward position of REX鈥檚 business,鈥� continued Mr. Rizvi. 鈥淭he expansion of our ethanol production capacity and potential benefit from 45Z and 45Q tax credits puts the Company in an excellent position to continue creating value for shareholders over the near and long-term.鈥�

Conference Call Information

REX will host a conference call at 11:00 a.m. ET today to discuss the Company鈥檚 fiscal second quarter results and will also host a question and answer session. To access the conference call, interested parties may dial (877) 269-7751 (US) or (201) 389-0908 (international). Participants can also view an updated presentation, as well as listen to a live webcast of the call by going to the Investors section on the REX website at . A replay will be available shortly after the live conference call and can be accessed by dialing (844) 512-2921 (US) or (412) 317-6671 (international). The passcode for the replay is 13755434. The replay will be available for 30 days after the call.

About REX American Resources Corporation

REX American Resources Corporation has interests in six ethanol production facilities, which in aggregate have production capacity totaling approximately 730 million gallons per year. REX鈥檚 effective ownership of annual volumes is approximately 300 million gallons. Further information about REX is available at .

Forward-Looking Statements

This press release contains or may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as 鈥渕ay,鈥� 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渁nticipate鈥� or 鈥渃ontinue鈥� or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company鈥檚 filings with the Securities and Exchange Commission and include among other things: the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, distillers corn oil, gasoline and natural gas, commodity market risk, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, success in permitting and developing the planned carbon sequestration facility near the One Earth Energy ethanol plant, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy and tariffs, changes in foreign currency exchange rates, the effects of terrorism or acts of war and the effect of pandemics on the Company鈥檚 business operations, including impacts on supplies, demand, personnel and other factors. The Company does not intend to update publicly any forward-looking statements except as required by law.

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Investor Contacts

Douglas Bruggeman

Chief Financial Officer

Caldwell Bailey

ICR, Inc.

[email protected]

Source: REX American Resources Corporation