Rex American Resources Corp. (NYSE: REX) reported Q3 EPS of $1.86, $0.36 better than the analyst estimate of $1.50. Revenue for the quarter came in at $123.8 million versus the consensus estimate of $117.6 million.

REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “The third quarter saw a continuation of the operating environment encountered during the first half of 2018, including increased pressure on ethanol pricing. We were successful in partially offsetting these challenges with increased distillers grains pricing, compared to the prior year period, as well as the continued benefit of our refined coal operation. As a result, REX delivered another profitable quarter as we generated approximately $11.9 million in net income, or $1.86 in earnings per share.

“Looking ahead, while the challenging environment continues to persist, we remain focused on the long-term prospects for our businesses. In addition, our debt free balance sheet and strong liquidity position, including cash, cash equivalents and short-term investments of $193 million and working capital of $228 million, allow us to continue to opportunistically repurchase shares and to remain well positioned to evaluate other near- and long-term opportunities to enhance shareholder value.”

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