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REX American Resources (REX) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 3, 2026 · REX American Resources (REX) Q2 FY27 earnings results →

Q2 FY27 Revenue up 6% year over year to $168M · 21¢ of every $1 of revenue kept as net profit · operating margin 28.6%

REX American Resources made $168M in Q2 FY27 (+6% Y/Y): Ethanol $126M, Dried Distillers Grains $24.2M, Distillers Corn Oil $17.6M. Operating margin 28.6%, net earnings $34.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.

Revenue$168M

Year over year+6%

Operating margin28.6%

Net earnings$34.9M

Operating cash flow$40.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $168.5M in Q2 FY27, up 6% year over year and up 8% from the previous quarter. Ethanol was the largest line at 75% of revenue. Distillers Corn Oil added $5.1M year over year (up 41%), 51% of the total change. Derivative Financial Instrument Gains Losses declined 69%.

Gross margin was 31.6%, up 22.6 points from Q2 FY26. Operating profit was $48.1M, a 28.6% margin (up 20.9 points year over year). Of the extra revenue versus Q2 FY26, 363% reached operating profit, above the 8% margin then. Operating expenses grew 133% against revenue growth of 6%. Net earnings were $34.9M, up 391% year over year. The effective tax rate was 15.5%.

Operating cash flow was $40.1M (up 146% year over year), 99% of net income including minority interests. Non-cash charges added back $4.4M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items used $8.6M. Capital expenditures of $23.3M left free cash flow of $16.8M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q2 FY27	10-Q	Sep 3, 2026	$168M	+6%	28.6%	$34.9M	$40.1M
Q1 FY27	10-Q	Jun 2, 2026	$156M	-1%	16.7%	$18.5M	−$2.1M
Q4 FY26	10-K	Mar 30, 2026	$158M	-0.2%	17.3%	$43.7M	$53.8M
Q3 FY26	10-Q	Dec 4, 2025	$176M	+0.4%	20.2%	$23.4M	$51.2M
Q2 FY26	10-Q	Sep 2, 2025	$159M	+7%	7.6%	$7.1M	$16.3M
Q1 FY26	10-Q	Jun 4, 2025	$158M	-2%	8.6%	$8.7M	−$3.5M
Q4 FY25	10-K	Mar 28, 2025	$158M	-16%	11.3%	$11.1M	$25.1M

Charts

Latest (Q2 FY27): Y/Y +6%, Q/Q +8%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q2 FY27): Net income $40.6M, Operating cash flow $40.1M.

-10.3% since FY21: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY24, 3-for-1 split before FY22.

Industrial Organic Chemicals; dot size is quarterly revenue; dashed lines are the industry's medians.