INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2026

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) before provision for income taxes includes the following components (in thousands):


	Year Ended July 31,
	2026		2025		2024
Domestic	$	69,411	$	66,285	$	48,995
Foreign	72		(74)		656
Income before income taxes	$	69,483	$	66,211	$	49,651

Schedule of Components of Income Tax Expense

The provision for income tax expense by fiscal year consists of the following (in thousands):


	2026		2025		2024
Current
Federal	$	8,609	$	8,790	$	6,059
State	1,915		2,959		2,243
Foreign	(9)		226		226
Current Income Tax Total	10,515		11,975		8,528
Deferred
Federal	2,057		433		934
State	63		(233)		778
Foreign	(121)		40		(15)
Deferred Income Tax Total	1,999		240		1,697
Total Income Tax Expense	$	12,514	$	12,215	$	10,225

Schedule of Income Taxes Paid

Income taxes paid (net of refunds) consists of the following (in thousands):


	Year Ended July 31,
	2026		2025		2024
Federal	$	8,483	$	9,275	$	6,481
State	1,661		2,877		3,516
Foreign	189		446		9
Total income taxes paid	$	10,333	$	12,598	$	10,006

Income taxes paid, net of refunds, exceeded 5 percent of total income taxes paid, net of refunds, in Mississippi; amounts paid were $0.1 million, $0.8 million, and $0.6 million in fiscal years 2026, 2025, and 2024 respectively. Additionally, income taxes paid, net of refunds, exceeded 5 percent of total income taxes paid, net of refunds, in Georgia in 2024; amounts paid were $0.6 million.

Schedule of Effective Income Tax Rate Reconciliation


	2026				2025				2024
	Amount		%		Amount		%		Amount		%
U.S. federal income tax	$	14,591	21.0	%	$	13,904	21.0	%	$	10,427	21.0	%
State income tax expense, net of federal tax expense (a)	1,562		2.2		2,153		3.3		2,387		4.8
Foreign tax effects	(216)		(0.3)		224		0.3		202		0.4

Effect of cross border tax laws
U.S tax impacts of foreign branch	12		—		249		0.4		658		1.3
Other	(397)		(0.6)		(695)		(1.1)		(560)		(1.1)
Tax credits	(217)		(0.3)		(932)		(1.4)		(247)		(0.5)

Nontaxable or nondeductible items
Nondeductible officer compensation	1,440		2.1		870		1.3		1,070		2.2
Depletion deductions allowed for mining	(2,792)		(4.0)		(2,981)		(4.5)		(2,705)		(5.4)
Stock based compensation	(1,737)		(2.5)		(693)		(1.0)		(1,022)		(2.1)
Other nontaxable or nondeductible item	217		0.3		132		0.2		320		0.6

Other adjustments	51		0.1		(16)		(0.1)		(305)		(0.6)
Effective income tax	$	12,514	18.0	%	$	12,215	18.4	%	$	10,225	20.6	%

Schedule of Deferred Tax Assets and Liabilities

The Consolidated Balance Sheets included the following tax effects of cumulative temporary differences as of July 31 (in thousands):


	2026				2025
	Assets		Liabilities		Assets		Liabilities
Amortization	$	—	$	5,590	$	—	$	5,863
Depreciation	—		6,613		—		6,237
Lease liabilities	3,690		—		3,961		—
Lease right of use assets	—		3,264		—		3,670
Accrued expenses	3,576		—		4,494		—
Federal & State NOL carryforward	2,011		—		2,470		—
Stock-based compensation	2,239		—		2,214		—
Foreign NOL carryforward	2,007		—		2,197		—
Deferred compensation	1,972		—		1,931		—
Capitalized R&D	442		—		1,029		—
Reclamation	695		—		785		—
Other assets	516		—		555		—
Postretirement benefits	420		—		422		—
Inventories	172		—		185		—
Depletion	—		106		—		121

Allowance for credit losses	64		—		213		—

Other liabilities	—		383		—		428


Valuation allowance	(2,408)		—		(2,846)		—
Total deferred taxes	$	15,396	$	15,956	$	17,610	$	16,319