Filing Flows › REX American Resources (REX) › Q2 FY26
REX American Resources (REX) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 2, 2025
REX American Resources (REX) reported revenue of $159M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +0.1% from the quarter before. Operating margin was 7.6%, net earnings $7.1M (4.5% of revenue).
REX American Resources, Q2 FY26: revenue $159M (+7% year over year), operating margin 7.6%, net earnings $7.1M, operating cash flow $16.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $159M | +0.1% | +7% |
| Gross profit | $14.3M | -0.2% | -28% |
| Operating profit | $12.1M | -11% | -38% |
| Net earnings | $7.1M | -18% | -43% |
| Operating cash flow | $16.3M | — | +104% |
What changed
Revenue was $158.6M in Q2 FY26, up 7% year over year and roughly flat from the previous quarter. Ethanol was the largest line at 78% of revenue. Ethanol added $7.2M year over year (up 6%), 69% of the total change. Other declined 62%.
Gross margin was 9.0%, down 4.3 points from a year earlier. Operating profit was $12.1M, a 7.6% margin (down 5.5 points year over year). Operating profit fell $7.4M even though revenue rose $10.4M versus a year earlier, so costs grew faster than sales. Operating expenses grew 702% against revenue growth of 7%. Net earnings were $7.1M, down 43% year over year. The effective tax rate was 22.9%.
Operating cash flow was $16.3M (up 104% year over year), 175% of net income including minority interests. Non-cash charges added back $3.6M of depreciation and amortization. Working capital and other items added $3.3M. Capital expenditures of $22.0M exceeded it, leaving free cash flow of −$5.7M.
Questions
What was REX American Resources' revenue in the second quarter fiscal 2026?
REX American Resources (REX) reported revenue of $159M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +0.1% from the quarter before.
Was REX American Resources profitable in the second quarter fiscal 2026?
Operating profit was $12.1M (7.6% of revenue) and net earnings $7.1M.