REX American Resources Smashes Q2 2026 Records: Strong Earnings and Expansion Plans Fuel Future Growth
REX American Resources has announced a phenomenal second quarter in fiscal 2026, with the company posting its highest-ever net income per share of $1.06. This remarkable achievement is a testament to the exceptional discipline and commercial execution displayed by REX's operating teams, as well as the favorable policy and market tailwinds that have been building for some time.
Stuart Rose, Executive Chairman of REX American Resources, highlighted two key developments during the quarter that mark significant progress against the company's long-term growth agenda. Firstly, the ethanol production expansion at the One Earth facility remains on schedule, with the added capacity expected to come online before the end of 2026.
Secondly, REX reported a substantial increase in 45Z credits during the quarter, with Zafar Rizvi, Chief Executive Officer, detailing the company's progress towards securing draft Class VI well permits from the U.S. Environmental Protection Agency (EPA). This regulatory milestone is a major step forward for the carbon capture and sequestration project, which has reached an important juncture in its development.
Rizvi emphasized that the issuance of these draft permits represents a significant achievement for the project, with the EPA now accepting public comment on those draft permits. REX continues to work closely with regulatory partners at both the state and federal levels to obtain the necessary approvals to move the project forward.
On a more positive note, Zafar Rizvi also highlighted the company's continued progress towards securing permits for its carbon capture and sequestration project in Illinois. The Illinois moratorium on carbon sequestration expired on July 1st, allowing regulators to initiate their rulemaking process, and REX plans to submit its application for a connector pipeline as soon as possible.
The company's balance sheet remains strong, with no bank debt and substantial cash and short-term investments. This gives REX the flexibility to fund its growth initiatives internally while continuing to evaluate the best uses of their capital going forward.
"I want to thank our employees across every facility for the consistency and care they bring to this business each day," Rose said, praising the dedication of REX's workforce. "It shows up directly in these results."
The company's commitment to growth and sustainability is evident in its plans to expand ethanol production capacity at the One Earth Energy facility and secure permits for carbon capture and sequestration projects. As REX continues to drive forward, investors can expect further announcements on expansion plans and operational progress.
