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Aug. 3, 2022 Source: The Andersons news release MAUMEE, Ohio -- The Andersons, Inc. (Nasdaq: ANDE) announces financial results for the second quarter ended June 30, 2022. Second Quarter Highlights: *Company reported net income from continuing operations attributable to The Andersons of $80.5 million, or $2.34 per diluted share, and adjusted net income of $82.2 million or $2.39 per diluted share *Adjusted EBITDA from continuing operations was $169.3 million for the quarter *Trailing twelve months adjusted EBITDA is $412.0 million Renewables produced record pretax income attributable to The Andersons of $45.9 million *Plant Nutrient had its second-best quarter ever, generating pretax income of $38.3 million *Trade reported strong adjusted pretax income of $24.4 million "I'm thrilled with the outstanding performance in this second quarter. The Renewables team nearly doubled last year's already strong performance, showing good yields and higher crush margins in our ethanol plants. Within Plant Nutrient, good inventory position management and high fertilizer prices led to higher margins and strong profitability," said President and CEO Pat Bowe. "In Trade, we entered the quarter with good basis ownership positions and as expected, we benefited from basis improvement during the quarter. In addition, we had very strong feed ingredients merchandising results in several of our locations. Global ag markets remain volatile, creating opportunities; our teams continue to execute well and remain focused on customer needs and operational excellence." To read the entire report click here. Tweet |
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