Rex American Resources Corp. (NYSE: REX) reported Q1 EPS of $1.45. Revenue for the quarter came in at $120.82 million versus the consensus estimate of $121.16 million.

REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “Ethanol pricing remained pressured in the first quarter based on industry supply levels and legislative uncertainty. However, our consolidated plants increased the volume of ethanol sold by 9% over last year’s first quarter and with the recovery in distillers grain pricing we grew the gross profit in the ethanol and by-products segment by 8.5%. This growth, combined with the benefits of our refined coal operations and other tax reductions enabled REX to more than double its net income and earnings per share in the first quarter of fiscal 2018 versus the same period last year.

“With our healthy balance sheet, including cash and short-term investments of $176 million and working capital of $220 million, we remain well positioned in our continued efforts to build value for our shareholders.”

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