REX American Resources Corporation (NYSE:REX) Q1 2020 Earnings Conference Call May 28, 2020 11:00 AM ET
Company Participants
Doug Bruggeman - CFO
Stuart Rose - Executive Chairman
Zafar Rizvi - CEO
Conference Call Participants
Operator
Greetings and welcome to the REX American Resources Fiscal 2020 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
Good morning, and thank you for joining REX American Resources' fiscal 2020 first quarter conference call. We hope everyone and their family and friends have remained safe and healthy since we've last spoke. 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 meaning 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 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.
Let me first review our financial performance. Sales for the quarter decreased 20.4%, primarily due to lower production levels, as we idled our NuGen plant mid-first quarter as the crush margin for this plant was affected by local corn availability, the COVID-19 pandemic and lower oil pricing, and the impact on
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