The Andersons (ANDE) Tops Q2 EPS by 65c in Best Quarter Since 2014

The Andersons (NASDAQ: ANDE) reported Q2 EPS of $1.31, $0.65 better than the analyst estimate of $0.66. Revenue for the quarter came in at $3.27 billion versus the consensus estimate of $2.31 billion.

"I'm very pleased that each of our four businesses delivered outstanding, year-over-year improvement with good execution in volatile markets. I\'m proud of our team; they anticipated market opportunities and executed well. These market conditions play into our strengths of commodity trading, logistics, and position management. We expect that North American demand will remain strong and currently anticipate large harvests in our key draw areas this fall which should drive strong performance into 2022," said President and CEO Pat Bowe.

"While ethanol margins have been volatile, risk management and effective hedging coupled with strong returns from co-products are evident in the segment's results," added Bowe. "Plant Nutrient followed up a very strong first quarter with a great second quarter driven by strong margins in supply-constrained markets. And while Rail continues its slow recovery, it has capitalized on record high scrap steel prices to extract value on end-of-life railcars. Lastly, I'm pleased to announce that our twelve trailing months adjusted EBITDA was greater than $342 million, well in excess of the $300 million run rate goal we established for 2021."

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

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