REX

EX-99

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Exhibit 99

REX American Resources Reports Fiscal First Quarter 2026 Net Income Per Share

Attributable to REX Common Shareholders of $0.56

REX American records best first quarter on a net income per share basis in company history

§Generated $0.56 of net income per share in Fiscal Q1 ’26

§Reported gross profit of $29.1 million for Fiscal Q1 ’26

§Reported net sales and revenue of $156.5 million for Fiscal Q1 ’26

§Reported consolidated ethanol sales volumes of 71.1 million gallons for Fiscal Q1 ’26

Dayton, OH - Thursday, May 28, 2026 - REX American Resources Corporation (“REX” or the “Company”) (NYSE: REX), a leading ethanol production company, today announced financial and operational results for the Company’s fiscal first quarter 2026.

REX American Resources’ fiscal first quarter 2026 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated affiliates.

First Quarter 2026 Results

REX reported Q1 ’26 net sales and revenue of $156.5 million, compared to Q1 ’25 net sales and revenue of $158.3 million, primarily reflecting lower ethanol pricing. The Company reported production tax credit income of $7.5 million in the first quarter of 2026. First quarter 2026 gross profit for the Company was $29.1 million, compared with $14.3 million in Q1 ’25 as the production tax credit income and lower corn costs more than offset the lower ethanol pricing. The Company reported interest and other income of $3.2 million in Q1 ’26, compared to $4.2 million in Q1 ’25. This led to Q1 ’26 income before income taxes and non controlling interests of $26.1 million, compared with $13.6 million in Q1 ’25.

Net income attributable to REX shareholders in Q1 ’26 was $18.5 million, compared to $8.7 million in Q1 ’25. First quarter ’26 diluted net income per share attributable to REX common shareholders was $0.56, compared to $0.26 per share in Q1 ’25. Per share results for Q1 ’26 and Q1 ’25 are based on 33,116,000 and 33,878,000 diluted weighted average shares outstanding, respectively.

Update on One Earth Energy Ethanol Production Expansion and Carbon Capture Projects

REX is nearing completion of the expansion of ethanol production at the One Earth facility. The Company expects testing and commissioning to begin upon completion, with the facility becoming fully operational during fiscal 2026.

The Company’s carbon capture and sequestration project continues to await permitting for the Class VI injection well and associated carbon dioxide pipeline. REX remains actively engaged with the U.S. EPA and the Illinois Commerce Commission throughout both processes.

Capital expenditures to-date related to the One Earth Energy

carbon capture and sequestration project and related expansion of ethanol production capacity at the Gibson City location totaled $176.3 million. The Company continues to budget a total of $220-$230 million for these projects, subject to further refinement as the projects move forward, including impacts of inflation.

Balance Sheet

As of April 30, 2026, REX had $364.3 million of cash, cash equivalents, and short-term investments available and no bank debt.

Management Commentary

“The first quarter of 2026 maintained REX’s strong operational and financial momentum, delivering the best first quarter on a net income per share basis in the Company’s history, while advancing our growth initiatives,” said Zafar Rizvi, Chief Executive Officer of REX.“Our core ethanol business continued its exceptional record of sustained profitability and earnings strength during the first quarter, benefiting from supportive industry tailwinds and emerging opportunities related to the 45Z tax credit. We remain highly optimistic about the opportunities ahead and what the remainder of 2026 holds for REX American.”

Change in Accounting Principles

Effective February 1, 2026, the Company elected to early adopt ASU 2025-10, “Accounting for Government Grants Received by Business Entities” (“ASU 2025-10”) and as such, changed its accounting policy related to the accounting for Section 45Z tax credits. The Company will record the tax credits earned under the income model of ASU 2025-10 as “Production tax credit income”, included within gross profit on the Consolidated Statements of Operations and within “Other assets” on the Consolidated Balance Sheets. The Company determined the income model under ASU 2025-10 is preferable to better align with monetization potential in the future. The Company has determined that retrospective adjustment to prior period financials is required. The Company did not record any section 45Z tax credits until the fourth quarter of 2025, and as such, there is no impact to the first quarter of 2025. As the Company does not intend to monetize the credits earned in 2025,

EX-99

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Exhibit 99

REX American Resources Reports Record High Full Fiscal Year 2025 Net Income

Per Share Attributable to REX Common Shareholders of $2.50

§Generated $1.32 of net income per share in fourth quarter and $2.50 of net income per share in Full Fiscal Year ‘25

§Reported gross profit of $28.9 million for fourth quarter and $93.7 million for Full Fiscal Year ‘25

§Reported net sales and revenue of $158.0 million for fourth quarter and $650.5 million for Full Fiscal Year ’25

§Reported consolidated ethanol sales volumes of 70.1 million gallons for fourth quarter and 290.0 million gallons for Full Fiscal Year ’25

Dayton, OH - Thursday, March 26, 2025 - REX American Resources Corporation (“REX” or the “Company”) (NYSE: REX), a leading ethanol production company, today announced financial and operational results for the Company’s full year and fiscal fourth quarter 2025.

REX American Resources’ Q4 and full fiscal year 2025 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates.

Full Fiscal Year 2025 Results

For the full fiscal year 2025, REX reported net sales and revenue of $650.5 million, compared with $642.5 million for full fiscal year 2024. The year-over-year net sales and revenue increase primarily reflects improved ethanol and corn oil pricing. Full fiscal year 2025 gross profit for the Company was $93.7 million, compared with $91.5 million in full fiscal year 2024, primarily reflecting better crush margins. Gross profit margin for fiscal year 2025 remained steady at 14% compared to fiscal year 2024. Full fiscal year 2025 income before income taxes and non-controlling interests was $88.6 million, compared with $92.9 million in the prior year period.

Net income attributable to REX shareholders in full fiscal year 2025 was $83.0 million, compared to $58.2 million in full fiscal year 2024. Full fiscal year diluted net income per share attributable to REX common shareholders was $2.50, compared to $1.65 per share in full fiscal year 2024. Per share results for full fiscal years 2025 and 2024 are based on 33,208,000 and 35,272,000 diluted weighted average shares outstanding, respectively.

Fourth Quarter 2025 Results

REX reported Q4 ’25 net sales and revenue of $158.0 million, compared to Q4 ‘24 net sales and revenue of $158.2 million. Fourth quarter 2025 gross profit for the Company was $28.9 million, compared with $17.6 million in Q4 ’24, a result of improved ethanol pricing and lower corn costs, the two largest drivers of gross profit. This led to Q4 ‘25 income before income taxes and non-controlling interests of $27.4 million, compared with $17.9 million in Q4 ’24.

During Q4 ’25, the Company recognized approximately $28.1 million in 45Z tax credits as a reduction to income tax expense. 45Z tax credits became available for production and sales beginning January 1, 2025.

Net income attributable to REX shareholders in Q4 ‘25 was $43.7 million, compared to $11.1 million in Q4 ’24. Q4 ‘25 diluted net income per share attributable to REX common shareholders was $1.32, compared to $0.31 per share in Q4 ’24. Per share results for Q4 ’25 and Q4 ’24 are based on 33,037,000 and 35,261,000 diluted weighted average shares outstanding, respectively.

Update on One Earth Energy Ethanol Production Expansion and Carbon Capture Projects

REX is nearing completion of the expansion of ethanol production at the One Earth facility. The Company expects testing and commissioning to begin upon completion, with the facility becoming fully operational during fiscal 2026.

The Company’s carbon capture and sequestration project continues to await permitting for the Class VI injection well and associated carbon dioxide pipeline. REX remains actively engaged with the U.S. EPA and the Illinois Commerce Commission throughout both processes.

Capital expenditures to-date related to the One Earth Energy

carbon capture and sequestration project and related expansion of ethanol production capacity at the Gibson City location totaled $166 million. The Company continues to budget a total of $220-$230 million for these projects.

Share Repurchases

During Fiscal Year 2025, the Company repurchased approximately 1,651,252 shares, for total consideration of $32.9 million. After these repurchases, a total of 2,357,186 shares remained available to purchase under existing board authorization.

Balance Sheet

As of January 31, 2026, REX had $375.8 million of cash, cash equivalents, and short-term investments available and no bank debt.

Management Commentary

“REX American delivered record earnings per share in fiscal 2025. We strengthened our record of profitable operations, advanced our ethanol production expansion, and continued working closely with government offi

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 4, 2025

REX AMERICAN RESOURCES CORPORATION

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)   001-09097 (Commission File No.)   31-1095548 (IRS Employer Identification No.)

7720 Paragon Road Dayton, Ohio (Address of principal executive offices)   45459 (Zip Code)

Registrant’s telephone number, including area code: (937) 276-3931

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol Name of each exchange on which registered

Commons stock, $0.01 par value REX New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.       ☐

Item 2.02.    Results of Operations and Financial Condition

On December 4, 2025, REX American Resources Corporation issued a press release announcing financial results for the three- and nine-month periods ended October 31, 2025. The press release is furnished as Exhibit 99 to this report.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits. The following exhibits are furnished with this report:

99 Press Release dated December 4, 2025*

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

*    Filed herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

REX AMERICAN RESOURCES CORPORATION

Date: December 4, 2025 By: /s/ DOUGLAS L. BRUGGEMAN

Name: Douglas L. Bruggeman

Title: Vice President - Finance, Chief Financial Officer and Treasurer

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