REX AMERICAN RESOURCES Corp Revenue Disclosure
| 2. | NET SALES AND REVENUE |
The Company recognizes sales of products when obligations under the terms of the respective contracts with customers are satisfied. This occurs with the transfer of control of products, generally upon shipment from the ethanol plant or upon loading of the rail car used to transport the products. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods. Sales, value added and other taxes the Company collects concurrent with revenue producing activities are excluded from net sales and revenue.
The majority of the Company’s sales have payment terms ranging from 5 to 10 days after transfer of control. The Company has determined that sales contracts do not generally include a significant financing component. The Company has not historically, and does not intend to, enter sales contracts in which payment is due from a customer prior to transferring product to the customer. Thus, the Company does not record unearned revenue.
The following table shows disaggregated revenue by product (amounts in thousands):
| Fiscal Year | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Sales of products: | ||||||||||||
| Ethanol | $ | 504,416 | $ | 496,411 | $ | 635,420 | ||||||
| Dried distillers grains | 88,156 | 101,432 | 139,173 | |||||||||
| Distillers corn oil | 52,382 | 38,999 | 52,935 | |||||||||
| Modified distillers grains | 5,388 | 4,896 | 5,584 | |||||||||
| Derivative financial instruments (losses) gains | (254) | 424 | (37) | |||||||||
| Other | 399 | 329 | 309 | |||||||||
| Total sales | $ | 650,487 | $ | 642,491 | $ | 833,384 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 30, 2026 | Showing above |
| 2025 | Mar 28, 2025 | |
| 2024 | Mar 29, 2024 | |
| 2023 | Mar 30, 2023 | |
| 2022 | Apr 6, 2022 | |
| 2019 | Mar 29, 2019 | |
| 2018 | Mar 29, 2018 | |
| 2017 | Mar 27, 2017 | |
| 2016 | Mar 25, 2016 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.