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REX American Resources (NYSE:REX) beats EPS expectations but faces revenue drop in Q2

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REX American Resources Corp. (NYSE:REX) has reported its financial results for the quarter ended in July, showing adjusted earnings per share (EPS) of 70 cents.

This marks an improvement over the same quarter last year, when the company posted an EPS of 52 cents.

Interestingly, the earnings met the expectations of analysts, who had predicted an EPS of 70 cents.

However, despite the positive earnings report, the company faced a significant revenue decline, with a 30.1% drop to $148.16 million compared to the previous year.

Analysts had expected revenue to be slightly higher, at $148.91 million.

Meanwhile, the company also reported a quarterly net income of $12.38 million.

So far, REX American Resources' share price has increased by 4.2% this quarter and have gained 0.4% this year.

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