– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) today reported financial results for its fiscal 2022 first quarter (“Q1 ‘22”) ended April 30, 2022. REX management will host a conference call and webcast today at 11:00 a.m. ET.
Conference Call: |
415/226-5357 |
Webcast / Replay URL: |
|
The webcast will be available for replay for 30 days. |
REX American Resources’ Q1 ‘22 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates. The Company reports results for its ethanol and by-products as continuing operations and beginning in the third quarter of fiscal 2021 its refined coal as discontinued operations as operations ceased on November 18, 2021.
REX’s Q1 ‘22 net sales and revenue were $194.2 million, compared with $164.0 million in Q1 ‘21. The year-over-year net sales and revenue increase primarily reflects higher pricing of ethanol, dried distillers grains, non-food grade corn oil and modified distillers grains, while cost of sales increased due to pricing pressures across corn and natural gas prices. This led to Q1 ‘22 gross profit decline for the Company’s continuing operations to $11.9 million, compared with $19.5 million in Q1 ‘21. As a result, the Company reported Q1 ‘22 income before income taxes and non-controlling interests of $8.8 million, compared with income before income taxes and non-controlling interests of $10.2 million in the comparable year ago period.
Net income attributable to REX shareholders in Q1 ‘22 was $5.2 million, compared to net income of $7.8 million in Q1 ‘21. Q1 ‘22 basic and diluted net income per share attributable to REX common shareholders was $0.87, compared to net income per share of $1.30 in Q1 ‘21. Per share results in Q1 ‘22 and Q1 ‘21 are based on 5,945,000 and 6,010,000 diluted weighted average shares outstanding, respectively.
REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “We are pleased with our start to fiscal 2022 as we managed through significant headwinds, including inflationary impacts on our major input costs, and logistical challenges. Despite this, we generated earnings of $0.87 per share, reflecting the success of our operating strategies, our plants' efficiency, and the expertise of our team.
"Looking ahead, we remain focused on strategically leveraging our financial resources to create added shareholder value. In particular, we continue to make progress on our carbon capture project, and evaluate other opportunities.”
At April 30, 2022, REX had cash, cash equivalents and short-term investments of $234.0 million, $39.0 million of which was at the parent company, and $195.0 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2022, of $255.7 million, $42.9 million of which was at the parent company, and $212.8 million of which was at its consolidated ethanol production facilities.
The following table summarizes select data related to REX’s consolidated alternative energy interests: |
||||||
Three Months Ended |
||||||
April 30, |
||||||
2022 |
|
2021 |
||||
| Average selling price per gallon of ethanol | $ |
2.28 |
$ |
1.79 |
||
| Average selling price per ton of dried distillers grains | $ |
218.90 |
$ |
208.92 |
||
| Average selling price per pound of non-food grade corn oil | $ |
0.63 |
$ |
0.33 |
||
| Average selling price per ton of modified distillers grains | $ |
118.09 |
$ |
71.54 |
||
| Average cost per bushel of grain | $ |
6.55 |
$ |
5.16 |
||
| Average cost of natural gas (per MmBtu) | $ |
5.93 |
$ |
3.18 |
||
First Quarter Conference Call
REX will host a conference call at 11:00 a.m. ET today. Senior management will discuss the quarterly financial results and host a question and answer session. The dial in number for the audio conference call is 415/226-5357 (domestic and international callers).
Participants can also listen to a live webcast of the call on the Company’s website, www.rexamerican.com. A webcast replay will be available for 30 days following the live event.
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 700 million gallons of ethanol over the twelve-month period ended April 30, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended April 30, 2022) by the ethanol production facilities in which it has ownership interests was approximately 277 million gallons. Further information about REX is available at www.rexamerican.com.
This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, commodity market risk, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations (in thousands, except per share amounts) Unaudited |
||||||||
Three Months Ended |
||||||||
April 30, |
||||||||
2022 |
|
2021 |
||||||
| Net sales and revenue | $ |
194,228 |
|
$ |
164,042 |
|
||
| Cost of sales |
|
182,316 |
|
|
144,565 |
|
||
| Gross profit |
|
11,912 |
|
|
19,477 |
|
||
| Selling, general and administrative expenses |
|
(5,203 |
) |
|
(9,903 |
) |
||
| Equity in income of unconsolidated ethanol affiliates |
|
1,951 |
|
|
570 |
|
||
| Interest and other income, net |
|
174 |
|
|
43 |
|
||
| Income before income taxes and noncontrolling interests |
|
8,834 |
|
|
10,187 |
|
||
| Provision for income taxes |
|
(1,848 |
) |
|
(2,224 |
) |
||
| Net income from continuing operations |
|
6,986 |
|
|
7,963 |
|
||
| Net income attributable to noncontrolling interests (continuing operations) |
|
(1,804 |
) |
|
(694 |
) |
||
| Net income attributable to REX common shareholders (continuing operations) |
|
5,182 |
|
|
7,269 |
|
||
| Net income from discontinued operations, net of tax |
|
- |
|
|
435 |
|
||
| Net loss attributable to noncontrolling interests (discontinued operations) |
|
- |
|
|
80 |
|
||
| Net income attributable to REX common shareholders (discontinued operations) |
|
- |
|
|
515 |
|
||
| Net income attributable to REX common shareholders | $ |
5,182 |
|
$ |
7,784 |
|
||
| Weighted average shares outstanding - basic and diluted |
|
5,945 |
|
|
6,010 |
|
||
| Basic and diluted net income per share from continuing operations attributable to REX common shareholders | $ |
0.87 |
|
$ |
1.21 |
|
||
| Basic and diluted net income per share from discontinued operations attributable to REX common shareholders |
|
- |
|
|
0.09 |
|
||
| Basic and diluted net income per share attributable to REX common shareholders | $ |
0.87 |
|
$ |
1.30 |
|||
- balance sheets follow -
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (in thousands) Unaudited |
||||||||
|
|
|
|
|
||||
|
|
April 30, |
|
January 31, |
||||
| ASSETS: |
|
2022 |
|
2022 |
||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ |
66,685 |
|
$ |
229,846 |
|
||
| Short-term investments |
|
167,347 |
|
|
25,877 |
|
||
| Restricted cash |
|
4,920 |
|
|
2,222 |
|
||
| Accounts receivable |
|
25,440 |
|
|
25,821 |
|
||
| Inventory |
|
56,388 |
|
|
42,225 |
|
||
| Refundable income taxes |
|
6,096 |
|
|
6,677 |
|
||
| Prepaid expenses and other |
|
16,006 |
|
|
12,499 |
|
||
| Total current assets |
|
342,882 |
|
|
345,167 |
|
||
| Property and equipment, net |
|
134,575 |
|
|
137,554 |
|
||
| Operating lease right-of-use assets |
|
13,250 |
|
|
11,221 |
|
||
| Deferred taxes and other assets |
|
24,817 |
|
|
25,853 |
|
||
| Equity method investment |
|
32,517 |
|
|
30,566 |
|
||
| TOTAL ASSETS | $ |
548,041 |
|
$ |
550,361 |
|
||
| LIABILITIES AND EQUITY: | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable - trade | $ |
19,160 |
|
$ |
32,266 |
|
||
| Current operating lease liabilities |
|
4,515 |
|
|
4,600 |
|
||
| Accrued expenses and other current liabilities |
|
15,184 |
|
|
13,617 |
|
||
| Total current liabilities |
|
38,859 |
|
|
50,483 |
|
||
| LONG-TERM LIABILITIES: | ||||||||
| Deferred taxes |
|
3,132 |
|
|
3,132 |
|
||
| Long-term operating lease liabilities |
|
8,539 |
|
|
6,390 |
|
||
| Other long-term liabilities |
|
2,920 |
|
|
2,794 |
|
||
| Total long-term liabilities |
|
14,591 |
|
|
12,316 |
|
||
| EQUITY: | ||||||||
| REX shareholders' equity: | ||||||||
| Common stock |
|
299 |
|
|
299 |
|
||
| Paid-in capital |
|
149,370 |
|
|
149,334 |
|
||
| Retained earnings |
|
647,532 |
|
|
642,350 |
|
||
| Treasury stock |
|
(361,183 |
) |
|
(361,191 |
) |
||
| Total REX shareholders' equity |
|
436,018 |
|
|
430,792 |
|
||
| Noncontrolling interests |
|
58,573 |
|
|
56,770 |
|
||
| Total equity |
|
494,591 |
|
|
487,562 |
|
||
| TOTAL LIABILITIES AND EQUITY | $ |
548,041 |
|
$ |
550,361 |
|
||
- statements of cash flows follow -
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) Unaudited |
||||||||
|
|
|
||||||
|
|
Three Months Ended |
||||||
|
|
April 30, |
||||||
|
|
2022 |
|
2021 |
||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income including noncontrolling interests | $ |
6,986 |
|
$ |
8,398 |
|
||
| Net income from discontinued operations, net of tax |
|
- |
|
|
435 |
|
||
| Net income from continuing operations |
|
6,986 |
|
|
7,963 |
|
||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation |
|
4,459 |
|
|
4,551 |
|
||
| Amortization of operating lease right-of-use assets |
|
1,430 |
|
|
1,389 |
|
||
| Income from equity method investments |
|
(1,951 |
) |
|
(570 |
) |
||
| Interest income from investments |
|
(148 |
) |
|
(15 |
) |
||
| Deferred income taxes |
|
1,161 |
|
|
2,303 |
|
||
| Stock based compensation expense |
|
218 |
|
|
291 |
|
||
| Loss (gain) on sale of property and equipment - net |
|
5 |
|
|
(3 |
) |
||
| Changes in assets and liabilities | ||||||||
| Accounts receivable |
|
381 |
|
|
(7,844 |
) |
||
| Inventories |
|
(14,163 |
) |
|
11,206 |
|
||
| Refundable income taxes |
|
581 |
|
|
(88 |
) |
||
| Other assets |
|
(3,529 |
) |
|
(2,169 |
) |
||
| Accounts payable - trade |
|
(13,233 |
) |
|
(654 |
) |
||
| Other liabilities |
|
124 |
|
|
(1,264 |
) |
||
| Net cash (used in) provided by operating activities from continuing operations |
|
(17,679 |
) |
|
15,096 |
|
||
| Net cash used in operating activities from discontinued operations |
|
- |
|
|
(1,533 |
) |
||
| Net cash (used in) provided by operating activities |
|
(17,679 |
) |
|
13,563 |
|
||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Capital Expenditures |
|
(1,462 |
) |
|
(1,267 |
) |
||
| Purchase of short-term investments |
|
(161,599 |
) |
|
(25,930 |
) |
||
| Sale of short-term investments |
|
20,278 |
|
|
26,275 |
|
||
| Other |
|
- |
|
|
30 |
|
||
| Net cash used in investing activities |
|
(142,783 |
) |
|
(892 |
) |
||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Payments to noncontrolling interests holders |
|
(1 |
) |
|
(75 |
) |
||
| Net cash used in financing activities from continuing operations |
|
(1 |
) |
|
(75 |
) |
||
| Net cash provided by financing activities from discontinued operations |
|
- |
|
|
68 |
|
||
| Net cash used in financing activities |
|
(1 |
) |
|
(7 |
) |
||
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
|
(160,463 |
) |
|
12,664 |
|
||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period |
|
232,068 |
|
|
146,158 |
|
||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period | $ |
71,605 |
|
$ |
158,822 |
|
||
| Non-cash financing activities - Stock awards accrued | $ |
174 |
|
$ |
348 |
|
||
| Non-cash investing activities - Accrued capital expenditures | $ |
205 |
|
$ |
280 |
|
||
| Right-of-use assets acquired and liabilities incurred upon lease execution | $ |
3,460 |
|
$ |
- |
|
||
ДЕЙТОН, Огайо--(BUSINESS WIRE)--Корпорация REX American Resources (NYSE: REX) (“REX” или “Компания”) сегодня сообщила о финансовых результатах за первый квартал 2022 финансового года (“1 квартал 22 года”), закончившийся 30 апреля 2022 года. Руководство REX проведет телефонную конференцию и веб-трансляцию сегодня в 11:00 утра по восточному времени.
Conference Call: |
415/226-5357 |
Webcast / Replay URL: |
|
The webcast will be available for replay for 30 days. |
Результаты REX American Resources’ Q1 ‘22 в основном отражают его интересы в шести объектах по производству этанола. Предприятия по производству этанола One Earth Energy, LLC (“One Earth”) и NuGen Energy, LLC (“NuGen”) консолидированы, в то время как четыре других завода по производству этанола отражаются как собственный капитал в доходах неконсолидированных дочерних компаний по производству этанола. Компания сообщает о результатах своей деятельности по производству этанола и побочных продуктов как о продолжающейся деятельности, а начиная с третьего квартала 2021 финансового года - по переработке угля как о прекращенной деятельности, поскольку операции прекратились 18 ноября 2021 года.
Чистые продажи и выручка REX в 1 ‘22 квартале составили $194,2 млн по сравнению с $164,0 млн в 1 ‘21 квартале. Увеличение чистых продаж и выручки в годовом исчислении в первую очередь обусловлено повышением цен на этанол, сухое дистилляционное зерно, непищевое кукурузное масло и модифицированное дистилляционное зерно, в то время как себестоимость продаж увеличилась из-за ценового давления на кукурузу и цены на природный газ. Это привело к снижению валовой прибыли продолжающейся деятельности Компании в 1 квартале 22 года до $11,9 млн по сравнению с $19,5 млн в 1 квартале 21 года. В результате Компания сообщила о доходах за 1 квартал 22 года до вычета налогов на прибыль и неконтролирующих долей участия в размере 8,8 млн долларов США по сравнению с доходом до вычета налогов на прибыль и неконтролирующих долей участия в размере 10,2 млн долларов США за аналогичный период прошлого года.
Чистая прибыль, приходящаяся на акционеров REX в 1 ‘22 квартале, составила $5,2 млн по сравнению с чистой прибылью в размере $7,8 млн в 1 ‘21 квартале. Базовая и разводненная чистая прибыль на акцию, приходящаяся на обыкновенных акционеров REX в 1 ‘22 квартале, составила $0,87, по сравнению с чистой прибылью на акцию в размере $1,30 в 1‘21 квартале. Результаты на акцию в 1 ‘22 и 1 ‘21 кварталах основаны на 5 945 000 и 6 010 000 разводненных средневзвешенных акций в обращении соответственно.
Главный исполнительный директор REX American Resources Зафар Ризви прокомментировал: “Мы довольны началом 2022 финансового года, поскольку нам удалось преодолеть значительные препятствия, в том числе инфляционные последствия для наших основных производственных затрат и логистические проблемы. Несмотря на это, мы получили прибыль в размере 0,87 доллара на акцию, что отражает успех наших операционных стратегий, эффективность наших заводов и опыт нашей команды.
"Заглядывая в будущее, мы по-прежнему сосредоточены на стратегическом использовании наших финансовых ресурсов для создания дополнительной акционерной стоимости. В частности, мы продолжаем добиваться прогресса в нашем проекте по улавливанию углерода и оцениваем другие возможности”.
По состоянию на 30 апреля 2022 года REX располагала денежными средствами, их эквивалентами и краткосрочными инвестициями в размере 234,0 млн долларов, из которых 39,0 млн долларов приходилось на материнскую компанию, а 195,0 млн долларов - на ее консолидированные производственные мощности. Это сопоставимо с денежными средствами, их эквивалентами и краткосрочными инвестициями по состоянию на 31 января 2022 года в размере 255,7 млн долларов, из которых 42,9 млн долларов были в материнской компании, а 212,8 млн долларов - на ее консолидированных мощностях по производству этанола.
The following table summarizes select data related to REX’s consolidated alternative energy interests: |
||||||
Three Months Ended |
||||||
April 30, |
||||||
2022 |
|
2021 |
||||
| Average selling price per gallon of ethanol | $ |
2.28 |
$ |
1.79 |
||
| Average selling price per ton of dried distillers grains | $ |
218.90 |
$ |
208.92 |
||
| Average selling price per pound of non-food grade corn oil | $ |
0.63 |
$ |
0.33 |
||
| Average selling price per ton of modified distillers grains | $ |
118.09 |
$ |
71.54 |
||
| Average cost per bushel of grain | $ |
6.55 |
$ |
5.16 |
||
| Average cost of natural gas (per MmBtu) | $ |
5.93 |
$ |
3.18 |
||
Конференц-звонок за Первый квартал
РЕКС проведет селекторное совещание сегодня в 11:00 утра по восточному времени. Высшее руководство обсудит квартальные финансовые результаты и проведет сессию вопросов и ответов. Набираемый номер для аудиоконференцсвязи - 415/226-5357 (для внутренних и международных абонентов).
Участники также могут прослушать прямую трансляцию звонка на веб-сайте Компании, www.rexamerican.com . Повтор веб-трансляции будет доступен в течение 30 дней после прямого эфира.
О корпорации REX American Resources
REX American Resources имеет долю в шести предприятиях по производству этанола, которые в совокупности отгрузили около 700 миллионов галлонов этанола за двенадцатимесячный период, закончившийся 30 апреля 2022 года. Фактическое владение REX конечными двенадцатимесячными галлонами, отгруженными (за двенадцать месяцев, закончившихся 30 апреля 2022 года) предприятиями по производству этанола, в которых она имеет долю собственности, составило примерно 277 миллионов галлонов. Более подробная информация о REX доступна по адресу www.rexamerican.com .
Это новостное сообщение содержит или может содержать прогнозные заявления по смыслу Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года. Такие заявления могут быть идентифицированы с помощью прогнозной терминологии, такой как “может”, “ожидать”, “полагать”, “оценивать”, “предвидеть” или “продолжать”, или их отрицание, или другие варианты этой или сопоставимой терминологии. Читатели предупреждаются о том, что существуют риски и неопределенности, которые могут привести к тому, что фактические события или результаты будут существенно отличаться от тех, о которых говорится в таких прогнозных заявлениях. Эти риски и неопределенности включают факторы риска, которые время от времени указываются в заявках Компании в Комиссию по ценным бумагам и биржам, и включают, среди прочего: влияние пандемий, таких как COVID-19, на бизнес-операции Компании, включая воздействие на поставки, спрос, персонал и другие факторы, влияние влияние законодательных и нормативных изменений, волатильность цен и доступность кукурузы, дистилляционного зерна, этанола, непищевого кукурузного масла, риски на товарных рынках, бензин и природный газ, заводы по производству этанола, работающие эффективно и в соответствии с прогнозами и прогнозами, перебои в логистике, изменения в международной, национальной или региональной экономике, влияние инфляции, способность привлекать сотрудников, погода, результаты проверок по подоходному налогу, изменения в законодательстве или нормативных актах по подоходному налогу, влияние внешнеторговой политики США, изменения курсов иностранных валют и последствия терроризма или военных действий. Компания не намерена публично обновлять какие-либо прогнозные заявления, за исключением случаев, предусмотренных законом.
REX American Resources CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations (in thousands, except per share amounts) Unaudited |
||||||||
Three Months Ended |
||||||||
April 30, |
||||||||
2022 |
|
2021 |
||||||
| Net sales and revenue | $ |
194,228 |
|
$ |
164,042 |
|
||
| Cost of sales |
|
182,316 |
|
|
144,565 |
|
||
| Gross profit |
|
11,912 |
|
|
19,477 |
|
||
| Selling, general and administrative expenses |
|
(5,203 |
) |
|
(9,903 |
) |
||
| Equity in income of unconsolidated ethanol affiliates |
|
1,951 |
|
|
570 |
|
||
| Interest and other income, net |
|
174 |
|
|
43 |
|
||
| Income before income taxes and noncontrolling interests |
|
8,834 |
|
|
10,187 |
|
||
| Provision for income taxes |
|
(1,848 |
) |
|
(2,224 |
) |
||
| Net income from continuing operations |
|
6,986 |
|
|
7,963 |
|
||
| Net income attributable to noncontrolling interests (continuing operations) |
|
(1,804 |
) |
|
(694 |
) |
||
| Net income attributable to REX common shareholders (continuing operations) |
|
5,182 |
|
|
7,269 |
|
||
| Net income from discontinued operations, net of tax |
|
- |
|
|
435 |
|
||
| Net loss attributable to noncontrolling interests (discontinued operations) |
|
- |
|
|
80 |
|
||
| Net income attributable to REX common shareholders (discontinued operations) |
|
- |
|
|
515 |
|
||
| Net income attributable to REX common shareholders | $ |
5,182 |
|
$ |
7,784 |
|
||
| Weighted average shares outstanding - basic and diluted |
|
5,945 |
|
|
6,010 |
|
||
| Basic and diluted net income per share from continuing operations attributable to REX common shareholders | $ |
0.87 |
|
$ |
1.21 |
|
||
| Basic and diluted net income per share from discontinued operations attributable to REX common shareholders |
|
- |
|
|
0.09 |
|
||
| Basic and diluted net income per share attributable to REX common shareholders | $ |
0.87 |
|
$ |
1.30 |
|||
- балансовые отчеты следуют -
REX American Resources CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (in thousands) Unaudited |
||||||||
|
|
|
|
|
||||
|
|
April 30, |
|
January 31, |
||||
| ASSETS: |
|
2022 |
|
2022 |
||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ |
66,685 |
|
$ |
229,846 |
|
||
| Short-term investments |
|
167,347 |
|
|
25,877 |
|
||
| Restricted cash |
|
4,920 |
|
|
2,222 |
|
||
| Accounts receivable |
|
25,440 |
|
|
25,821 |
|
||
| Inventory |
|
56,388 |
|
|
42,225 |
|
||
| Refundable income taxes |
|
6,096 |
|
|
6,677 |
|
||
| Prepaid expenses and other |
|
16,006 |
|
|
12,499 |
|
||
| Total current assets |
|
342,882 |
|
|
345,167 |
|
||
| Property and equipment, net |
|
134,575 |
|
|
137,554 |
|
||
| Operating lease right-of-use assets |
|
13,250 |
|
|
11,221 |
|
||
| Deferred taxes and other assets |
|
24,817 |
|
|
25,853 |
|
||
| Equity method investment |
|
32,517 |
|
|
30,566 |
|
||
| TOTAL ASSETS | $ |
548,041 |
|
$ |
550,361 |
|
||
| LIABILITIES AND EQUITY: | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable - trade | $ |
19,160 |
|
$ |
32,266 |
|
||
| Current operating lease liabilities |
|
4,515 |
|
|
4,600 |
|
||
| Accrued expenses and other current liabilities |
|
15,184 |
|
|
13,617 |
|
||
| Total current liabilities |
|
38,859 |
|
|
50,483 |
|
||
| LONG-TERM LIABILITIES: | ||||||||
| Deferred taxes |
|
3,132 |
|
|
3,132 |
|
||
| Long-term operating lease liabilities |
|
8,539 |
|
|
6,390 |
|
||
| Other long-term liabilities |
|
2,920 |
|
|
2,794 |
|
||
| Total long-term liabilities |
|
14,591 |
|
|
12,316 |
|
||
| EQUITY: | ||||||||
| REX shareholders' equity: | ||||||||
| Common stock |
|
299 |
|
|
299 |
|
||
| Paid-in capital |
|
149,370 |
|
|
149,334 |
|
||
| Retained earnings |
|
647,532 |
|
|
642,350 |
|
||
| Treasury stock |
|
(361,183 |
) |
|
(361,191 |
) |
||
| Total REX shareholders' equity |
|
436,018 |
|
|
430,792 |
|
||
| Noncontrolling interests |
|
58,573 |
|
|
56,770 |
|
||
| Total equity |
|
494,591 |
|
|
487,562 |
|
||
| TOTAL LIABILITIES AND EQUITY | $ |
548,041 |
|
$ |
550,361 |
|
||
- отчеты о движении денежных средств следуют -
REX American Resources CORPORATION AND SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) Unaudited |
||||||||
|
|
|
||||||
|
|
Three Months Ended |
||||||
|
|
April 30, |
||||||
|
|
2022 |
|
2021 |
||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income including noncontrolling interests | $ |
6,986 |
|
$ |
8,398 |
|
||
| Net income from discontinued operations, net of tax |
|
- |
|
|
435 |
|
||
| Net income from continuing operations |
|
6,986 |
|
|
7,963 |
|
||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation |
|
4,459 |
|
|
4,551 |
|
||
| Amortization of operating lease right-of-use assets |
|
1,430 |
|
|
1,389 |
|
||
| Income from equity method investments |
|
(1,951 |
) |
|
(570 |
) |
||
| Interest income from investments |
|
(148 |
) |
|
(15 |
) |
||
| Deferred income taxes |
|
1,161 |
|
|
2,303 |
|
||
| Stock based compensation expense |
|
218 |
|
|
291 |
|
||
| Loss (gain) on sale of property and equipment - net |
|
5 |
|
|
(3 |
) |
||
| Changes in assets and liabilities | ||||||||
| Accounts receivable |
|
381 |
|
|
(7,844 |
) |
||
| Inventories |
|
(14,163 |
) |
|
11,206 |
|
||
| Refundable income taxes |
|
581 |
|
|
(88 |
) |
||
| Other assets |
|
(3,529 |
) |
|
(2,169 |
) |
||
| Accounts payable - trade |
|
(13,233 |
) |
|
(654 |
) |
||
| Other liabilities |
|
124 |
|
|
(1,264 |
) |
||
| Net cash (used in) provided by operating activities from continuing operations |
|
(17,679 |
) |
|
15,096 |
|
||
| Net cash used in operating activities from discontinued operations |
|
- |
|
|
(1,533 |
) |
||
| Net cash (used in) provided by operating activities |
|
(17,679 |
) |
|
13,563 |
|
||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Capital Expenditures |
|
(1,462 |
) |
|
(1,267 |
) |
||
| Purchase of short-term investments |
|
(161,599 |
) |
|
(25,930 |
) |
||
| Sale of short-term investments |
|
20,278 |
|
|
26,275 |
|
||
| Other |
|
- |
|
|
30 |
|
||
| Net cash used in investing activities |
|
(142,783 |
) |
|
(892 |
) |
||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Payments to noncontrolling interests holders |
|
(1 |
) |
|
(75 |
) |
||
| Net cash used in financing activities from continuing operations |
|
(1 |
) |
|
(75 |
) |
||
| Net cash provided by financing activities from discontinued operations |
|
- |
|
|
68 |
|
||
| Net cash used in financing activities |
|
(1 |
) |
|
(7 |
) |
||
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
|
(160,463 |
) |
|
12,664 |
|
||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period |
|
232,068 |
|
|
146,158 |
|
||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period | $ |
71,605 |
|
$ |
158,822 |
|
||
| Non-cash financing activities - Stock awards accrued | $ |
174 |
|
$ |
348 |
|
||
| Non-cash investing activities - Accrued capital expenditures | $ |
205 |
|
$ |
280 |
|
||
| Right-of-use assets acquired and liabilities incurred upon lease execution | $ |
3,460 |
|
$ |
- |
|
||
