Dayton company smashes estimates as year-over-year revenue soars 398%
WASHINGTON TOWNSHIP, Ohio (Dayton Business Journal) -- One of Dayton’s few publicly-traded companies is booming. REX American Resources Corp. posted $195.8 million in revenue in its second quarter, surpassing analysts’ consensus estimates and boosting the Dayton company’s stock by more than 5% yesterday.
Net sales and revenue grew 398% year over year from $39.3 million in the second quarter of 2020. The alternative energy investment company generated about $7.9 million in net income for the quarter, buoyed by $14.2 million in gross profit for ethanol and byproducts — up from $553,000 during the prior-year quarter.
REX American Resources Corp. has interests in six ethanol production facilities and a refined coal operation. The company has 128 employees at its two consolidated ethanol plants and at its corporate headquarters in Washington Township, according to DBJ research.
The company was founded in 1980 by Stuart Rose, who is known for his philanthropic efforts in the Dayton region.
For more on its growth, visit the Dayton Business Journal.