REX American Resources reports Q3 EPS $2.00, one est. $1.30
Reports Q3 revenue $121.2M, one est. $120M. REX American Resources' Q3 '17 results principally reflect its interests in six ethanol production facilities and its refined coal operation. One Earth Energy, LLC and NuGen Energy, LLC are consolidated, while those of its four remaining plants are reported as equity in income of unconsolidated ethanol affiliates. REX's financial results for the fiscal 2017 third quarter also reflect the refined coal entity acquired by the Company on August 10, 2017. REX expects revenues from the sale of refined coal produced at the facility will be subsidized by federal production tax credits, subject to meeting qualified emissions reductions as governed by Section 45 of the Internal Revenue Code. Beginning in the third quarter of fiscal 2017, the company will report results for its two business segments, ethanol and by-products and refined coal.