Andersons, Inc. (ANDE) 10K Annual Reports & 10Q SEC Filings

•Company reported net income attributable to The Andersons from continuing operations of $32.8 million, or $0.95 per diluted share, and adjusted net income from continuing operations of $39.2 million, or $1.14 per diluted share

•Company reported its best ever fourth quarter adjusted pretax income from continuing operations

•Trade reported pretax income of $18.3 million and adjusted pretax income of $26.9 million driven by strong asset and merchandising income

•Renewables (formerly Ethanol) reported pretax income attributable to the company of $26.5 million, the best fourth quarter since 2013 on strong margins

•Plant Nutrient posted a record fourth quarter with pretax income of $15.9 million

•Adjusted EBITDA from continuing operations of $130.5 million, also a record quarter

"I'm very pleased with our performance which includes record fourth quarter results for the company and for our Plant Nutrient business. We continued to execute well throughout a good 2021 harvest, particularly in the eastern grain belt, made good operating and commercial decisions and enjoyed additional profit from growth in new markets, such as renewable diesel and supply chain extensions with our new Swiss trading office. During 2021, our teams operated safely and effectively in these strong agriculture markets leading to each of our three business segments reaching record or near-record performance in the quarter," said President and CEO Pat Bowe.

"We enjoyed strong renewable fuels margins in the fourth quarter; remained focused on risk management, effective hedging and strong operational performance; and continued to see good returns from co-products, particularly distillers' corn oil," added Bowe. "We continue to diversify revenues for this group into attractive new product lines; an example of this would be renewable diesel feedstocks. You will note that we have renamed our Ethanol segment 'Renewables' to reflect its broader scope of products and services. We continue to see robust activity in our Trade business profit centers and are focused on executing well and serving customer needs in a continuing volatile commodity environment. Finally, Plant Nutrient followed up a very strong first half with a great second half, leading to a record year. Fertilizer prices and farm income both remain high; we continue to receive good support from our suppliers in this time of tight stocks and expect continued strong performance as we move into 2022."

The following information was filed by Andersons, Inc. (ANDE) on Tuesday, February 15, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Andersons, Inc.'s 10-K Annual Report:

Financial - Earnings Highlight
Gross profit improved year over year due to increases in volumes and margins across the breadth of product lines and reflects higher demand, strong grower income and well-positioned inventory.

Financial - Earnings Highlight
The net increase to gross profit in the current period results reflect significantly improved crush margins, higher co-product sales from traditional and high-protein feed products and corn oil and strong merchandising revenues.
Revenue - Product Highlight
Additional contributing factors to the increase were higher proceeds from sales of assets and railcars in the normal course of business, fewer purchased railcars and the continued strategic use of capital spending to enhance overall liquidity and cash management.
Revenue - Product Highlight
The significant increase from the prior year was a result of proceeds received from the sale of the Rail Leasing business as well as a grain asset location within the Trade segment.
Revenue - Product Highlight
Therefore, increases or decreases in prices of the commodities that the business deals in will have a relatively equal impact on sales and cost of sales and a much less significant impact on gross profit.
Financial - Expense
Operating, administrative and general expenses...Read more
Financial - Earnings
As we move into 2022,...Read more
Financial - Expense
The increase in accrued expenses...Read more
Revenue - Product
The increase in the current...Read more
Financial - Expense
Operating, administrative and general expenses...Read more
Financial - Earnings
The net increase in gross...Read more
Financial - Income
Other income increased by $19.1...Read more
Financial - Expense
Labor and benefits expenses were...Read more
Financial - Earnings
While high corn prices may...Read more
Financial - Earnings
Renewables The Renewables Group results...Read more
Financial - Expense
Despite the expense increase, the...Read more
Financial - Income
Fertilizer prices have increased year-over-year...Read more
Financial - Income
Looking forward, the Group expects...Read more
Other - Other
Forward Looking Statements The following...Read more
Other - Other
Our recent growth from the...Read more
Financial - Cash Flow
Our estimates of future cash...Read more
Revenue - Product
Volumes shipped for the years...Read more
Other - Other
See also the discussion below...Read more
Financial - Earnings
Additionally, our traditional asset locations...Read more
Financial - Expense
Further, the Group continues to...Read more
Other - Other
The significant increase in cash...Read more
Other - Other
Deterioration in any of these...Read more
M & A - Other
We use our best estimates...Read more
Financial - Expense
The Andersons, Inc. | 2021...Read more
Financial - Debt
This change from the prior...Read more
Other - Other
As of December 31, 2021,...Read more
Financial - Expense
Operating, administrative and general expenses...Read more
Other - Other
Specifically, actual results may vary...Read more
Other - Other
Retiree Healthcare & Pension Programs...Read more
Financial - Debt
Contractual Obligations Long-term Debt As...Read more
Financial - Expense
Interest expense decreased $1.5 million...Read more
M & A - Other
Business Combinations Accounting for business...Read more
Financial - Debt
$24.7 million and $7.6 million...Read more
Other - Other
If an asset group is...Read more
Other - Other
Readily Marketable Inventories and Derivative...Read more
Other - Other
The Company is taking a...Read more
Financial - Earnings
As a result, gross profit...Read more
Financial - Expense
The increase in operating losses...Read more
Financial - Income
The Company's effective rate for...Read more
Other - Other
The Company is continuing to...Read more
Financial - Dividend
On December 16, 2021, the...Read more
Other - Other
This increase was noted in...Read more
Other - Other
Commodity inventories on hand at...Read more
Other - Other
The postretirement health care benefit...Read more
Other - Other
Trade The Trade Group's performance...Read more
Other - Other
The increases in accounts receivable,...Read more
Other - Other
As of December 31, 2021,...Read more
Revenue - Product
Most of the increase to...Read more
Other - Other
Looking forward, the Group is...Read more
Other - Other
The decrease in cash used...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Andersons, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 4.2: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.19: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 95.1: Ex-95.1

Ticker: ANDE
CIK: 821026
Form Type: 10-K Annual Report
Accession Number: 0000821026-22-000050
Submitted to the SEC: Thu Feb 24 2022 1:52:10 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Wholesale Farm Product Raw Materials