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REX - REX American Resources: Bad Weather Knocks The FQ3 Earnings
REX American Resources Corporation
U.S. corn ethanol producer REX American Resources (REX) reported FQ3 (for the period ending October 31) earnings last week that badly missed the consensus on both lines. Its revenue came in at $86.7 million compared to an estimate of $123 million and a FQ3 2018 result of $124 million. Likewise, its diluted EPS of -$0.32 represented a sharp decline relative to both the estimate of $1.49 and last year's comparable result of $1.86. The company's share price fell sharply in response, and it has now given up most of the double-digit gain that