Why REX American Resources Shares Are Gaining Today
Portfolio Pulse from Lekha Gupta
REX American Resources Corp reported Q1 2023 net sales and revenue of $212.7 million, up 9.5% Y/Y, beating the consensus of $183 million. The increase was driven by higher sales of ethanol, dried distillers grains, and distillers corn oil, as well as increased selling prices. Gross profit rose 26.2% Y/Y to $15 million, and EPS of $0.30 beat the consensus of $0.08. REX shares are trading higher by 12.2% at $35.14.
May 25, 2023 | 5:09 pm
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REX American Resources reported better-than-expected Q1 2023 results, with revenue up 9.5% Y/Y and EPS beating consensus. The stock is trading higher by 12.2% at $35.14.
REX American Resources reported strong Q1 2023 results, with revenue and EPS both beating consensus estimates. The growth in revenue was driven by higher sales of ethanol, dried distillers grains, and distillers corn oil, as well as increased selling prices. This positive news has led to a 12.2% increase in the stock price, indicating a short-term positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100