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Aug. 5, 2025 Source: The Andersons news release MAUMEE, Ohio -- The Andersons, Inc. (Nasdaq: ANDE) announces financial results for the second quarter ended June 30, 2025. Additionally, the Company announces it has acquired the full ownership interest in The Andersons Marathon Holdings LLC (TAMH). Second Quarter Highlights: *Reported net income and adjusted net income attributable to The Andersons of $8 million, or $0.23 per diluted share and $0.24 per diluted share on an adjusted basis *Adjusted EBITDA was $65 million *Renewables reported pretax income of $17 million and pretax income attributable to The Andersons of $10 million on strong operating performance *Agribusiness recorded a pretax income of $19 million and adjusted pretax income attributable to The Andersons of $17 million Strategic Acquisition of Full Ownership Interest of TAMH: *Acquired the remaining 49.9% ownership interest in TAMH from a subsidiary of Marathon Petroleum Corp. (Marathon) for $425 million, inclusive of $40 million of working capital (a net purchase price of $385 million) *The transaction closed on July 31, 2025, funded with cash on hand and debt from existing credit facilities "Over the past couple of years, we have shared our intent to utilize a disciplined capital deployment approach to grow earnings through additional investment in ethanol," said President and CEO Bill Krueger. "After evaluating several opportunities, we have acquired Marathon's ownership in TAMH, in line with our stated strategy. This transaction doubles our financial ownership in the ethanol industry, a key growth pillar within our Renewables strategy. "Importantly, we currently operate the four plants with Andersons employees, thus limiting our execution risk. The acquisition is attractive from a financial perspective and we expect immediate accretion in earnings per share. These production facilities are poised to further benefit from increased support for renewable fuels." "Construction continues on our Houston port project, which was initiated to improve the efficiency and capacity of our grain operations and add export capacity for U.S. soybean meal, which should be supported by potential changes from the EPA's proposed renewable volume obligations (RVOs). We expect completion of this project by mid-2026. Finally, we are continuing to optimize our portfolio and improve the efficiency of our operations. "Work continues on integrating the former Trade and Nutrient businesses, including the addition of Skyland Grain, LLC assets into our agribusiness portfolio. As we finish a successful wheat harvest, we are preparing our facilities for an anticipated large fall harvest. Near record corn plantings in the U.S. should provide opportunities for both our merchandising and grain asset footprint into 2026," continued Krueger. <>Strategic Acquisition of the Full Ownership Interest of TAMH TAMH operates four ethanol plants with total annual production capacity of 500 million gallons located in Albion, Michigan, Clymers, Indiana, Greenville, Ohio and Denison, Iowa. With this acquisition, The Andersons now owns 100% of TAMH. Upon completion of the transaction, TAMH was renamed The Andersons Renewables, LLC. "We are proud of what we built at TAMH through our partnership with Marathon and are excited to bring the business fully under The Andersons' leadership given its strong alignment with our long-term strategy. As the sole owner and operator of these assets, we will be able to streamline decision making and unlock greater efficiency," said Krueger. "We deeply appreciate our partnership with Marathon and look forward to continuing our long-standing commercial relationship. As one of the largest consumers of ethanol in the United States, Marathon remains a valued customer." To read the entire report click here. Tweet |
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