The Andersons (ANDE) Tops Q3 EPS by 5c

The Andersons (NASDAQ: ANDE) reported Q3 EPS of ($0.07), $0.05 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.87 billion.

"We continued to make good progress during the quarter toward reaching our vision to be the most nimble and innovative ag supply chain company in North America," said President and CEO Pat Bowe. "The integration of Trade and Ethanol is going well and is being modeled after the successful integration of Lansing Trade Group last year. While we will always be vigilant about costs, we are looking forward to placing more emphasis on profitable growth and extraordinary customer service in 2021 and beyond."

"Our results for the third quarter were solid in light of the current economic environment," continued Bowe. "Trade, Ethanol and Plant Nutrient all recorded improved results year over year. Trade led the way with better merchandising income as the fall harvest got off to a good start. Ethanol\'s results were much improved, notwithstanding large non-cash mark-to-market charges. Plant Nutrient's results improved substantially year over year in a quarter in which that business is usually seasonally weak. Finally, Rail continued to feel the negative impacts of weak railcar demand."

For earnings history and earnings-related data on The Andersons (ANDE) click here.

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