Filing Flows › REX American Resources (REX) › Q3 FY26
REX American Resources (REX) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 4, 2025
REX American Resources (REX) reported revenue of $176M for the third quarter fiscal 2026 (Q3 FY26), +0.4% from a year earlier and +11% from the quarter before. Operating margin was 20.2%, net earnings $23.4M (13.3% of revenue).
REX American Resources, Q3 FY26: revenue $176M (+0.4% year over year), operating margin 20.2%, net earnings $23.4M, operating cash flow $51.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | +11% | +0.4% |
| Gross profit | $36.1M | +152% | -9% |
| Operating profit | $35.5M | +193% | -10% |
| Net earnings | $23.4M | +229% | -4% |
| Operating cash flow | $51.2M | +215% | +53% |
| Free cash flow | $24.5M | — | +35% |
What changed
Revenue was $175.6M in Q3 FY26, roughly flat year over year and up 11% from the previous quarter. Ethanol was the largest line at 77% of revenue. Distillers Corn Oil added $6.1M year over year (up 60%), 816% of the total change. Dried Distillers Grains declined 11%.
Gross margin was 20.6%, down 2.1 points from a year earlier. Operating profit was $35.5M, a 20.2% margin (down 2.4 points year over year). Operating profit fell $4.0M even though revenue rose $748K versus a year earlier, so costs grew faster than sales. Operating expenses grew 284% against flat revenue. Net earnings were $23.4M, down 4% year over year. The effective tax rate was 22.5%.
Operating cash flow was $51.2M (up 53% year over year), 187% of net income including minority interests. Non-cash charges added back $3.9M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $17.2M. Capital expenditures of $26.7M left free cash flow of $24.5M.
Questions
What was REX American Resources' revenue in the third quarter fiscal 2026?
REX American Resources (REX) reported revenue of $176M for the third quarter fiscal 2026 (Q3 FY26), +0.4% from a year earlier and +11% from the quarter before.
Was REX American Resources profitable in the third quarter fiscal 2026?
Operating profit was $35.5M (20.2% of revenue) and net earnings $23.4M.