Reports Q1 revenue $120.8M, one estimate $121.16M. REX American Resources' CEO Zafar Rizvi, commented, "Ethanol pricing remained pressured in the first quarter based on industry supply levels and legislative uncertainty. However, our consolidated plants increased the volume of ethanol sold by 9% over last year's first quarter and with the recovery in distillers grain pricing we grew the gross profit in the ethanol and by-products segment by 8.5%. This growth, combined with the benefits of our refined coal operations and other tax reductions enabled REX to more than double its net income and earnings per share in the first quarter of fiscal 2018 versus the same period last year. With our healthy balance sheet, including cash and short-term investments of $176M and working capital of $220M, we remain well positioned in our continued efforts to build value for our shareholders."
Reports Q4 revenue $109.5M, one estimate $121.6M. REX American Resources' CEO Zafar Rizvi, commented, "Similar to much of 2017, the fourth quarter presented a challenging period across the ethanol sector as significant pressure on ethanol pricing impacted our results. Despite these challenges, we were able to leverage our ethanol and by-products operations, as well as our refined coal operation, to post another profitable quarter and fiscal year. We remain optimistic regarding our ethanol business and are confident that our recent investment in refined coal will continue to benefit our financial results. Finally, we ended 2017 with a strong balance sheet and healthy liquidity position, including cash and cash equivalents of $191M and working capital of $212M, which favorably positions us to execute on our operating initiatives."