REX American Resources Corporation (NYSE:REX) Q1 2019 Earnings Conference Call May 30, 2019 11:00 AM ET
Company Participants
Doug Bruggeman - Chief Financial Officer
Stuart Rose - Executive Chairman of the Board
Zafar Rizvi - Chief Executive Officer
Conference Call Participants
Pavel Molchanov - Raymond James
Robert Maltbie - Singular Research
Operator
Greetings, and welcome to the REX American Resources Fiscal 2019 First Quarter Conference Call. [Operator Instructions]
I would now like to turn the conference over to Doug Bruggeman, Chief Financial Officer. Please go ahead.
Doug Bruggeman
Thank you. Good morning and thank you for joining REX American Resources' fiscal 2019 first quarter conference call. We'll get to our presentation and comments momentarily, as well as your Q&A session, but first I'll review the Safe Harbor disclosure.
In addition to historical facts or statements of current conditions, today's conference call contains forward-looking statements that involve risks and uncertainties within the meanings of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations and beliefs, but are not guarantees of future performance. As such, actual results may vary materially from expectations.
The risks and uncertainties associated with the forward-looking statements are described in today's news announcement and in the company's filings with the Securities and Exchange Commission, including the company's reports on Form 10-K and 10-Q. REX American Resources assumes no obligation to publicly update or revise any forward-looking statements.
I have joining me on the call today, Stuart Rose, Executive Chairman of the Board; and Zafar Rizvi, Chief Executive Officer. I'll first review our financial performance and then turn the call over to Stuart for his comments.
Sales for the quarter decreased 13.4%, primarily due to lower production levels as a result of weather-related logistical issues, from flooding in the Midwest, as well as lower ethanol
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