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Andersons, Inc. (ANDE) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

SEC Filings

Andersons, Inc.

CIK: 821026 Ticker: ANDE


logoa04a17.gif             NEWS RELEASE
        
The Andersons, Inc. Reports Third Quarter 2019 Results
 
MAUMEE, OHIO, November 5, 2019 - The Andersons, Inc. (NASDAQ: ANDE)
announces financial results for the third quarter ended September 30, 2019.

Third Quarter Highlights:
Company reports a net loss of $4.2 million or $0.13 per diluted share and an adjusted net loss of $2.3 million, or $0.07 per diluted share.
Trade Group reports improved results, recording a pretax loss of $2.0 million and adjusted pretax income of $0.6 million, as stronger merchandising income was offset by the impact of reduced planting and a delayed harvest in the Eastern corn belt.
Ethanol Group records pretax income of $0.9 million in a challenging margin environment.
Plant Nutrient Group records a smaller pretax loss of $7.4 million due to increased field activity in the quarter.
Rail Group earns $3.1 million of pretax income on stable railcar leasing income.

“The Trade Group’s adjusted results were much improved year over year on stronger merchandising, though grain originations lagged due to limited farmer selling,” said President and CEO Pat Bowe. “We continue to see the benefits of our larger and more diversified Trade Group, whose results were substantially better than they would have been without the Lansing acquisition.”

“I’m also particularly pleased that our Ethanol Group remained profitable despite difficult market conditions, outpacing many in its sector,” continued Bowe. “In August, we began production at ELEMENT, our state-of-the-art biorefinery in Kansas, from which we ultimately expect industry-leading results. We also announced in October the merger of what had been four separate ethanol plant entities, three of which were jointly owned with Marathon Petroleum Corporation, into a single entity jointly owned with Marathon just after quarter-end.”
 
 
 
 
$ in millions, except per share amounts
Q3 2019
Q3 2018
Variance
YTD 2019
YTD 2018
Variance
Pretax Income (Loss) Attributable to the Company1
$(11.4)
$(3.9)
$(7.5)
$10.0
$23.4
$(13.4)
Adjusted Pretax Income (Loss)1
$(8.9)
$(0.4)
$(8.5)
$27.3
$26.9
$0.4
     Trade (Grain) Group
$0.6
$(9.9)
$10.5
$21.6
$(2.5)
$24.1
     Ethanol Group
$0.9
$10.4
$(9.5)
$6.2
$20.7
$(14.5)
     Plant Nutrient Group
$(7.4)
$(8.0)
$0.6
$4.5
$8.2
$(3.7)
     Rail Group
$3.1
$5.7
$(2.6)
$10.6
$10.6
$—
     Other
$(6.1)
$1.4
$(7.5)
$(15.6)
$(10.3)
$(5.3)
Net Income (Loss)1
$(4.2)
$(2.1)
$(2.1)
$11.7
$17.7
$(6.0)
Adjusted Net Income (Loss)1
$(2.3)
$0.5
$(2.8)
$24.7
$20.3
$4.4
EPS
$(0.13)
$(0.07)
$(0.06)
$0.35
$0.62
$(0.27)
Adjusted EPS
$(0.07)
$0.02
$(0.09)
$0.75
$0.71
$0.04
EBITDA
$40.0
$24.0
$16.0
$154.0
$111.4
$42.6
Adjusted EBITDA
$42.5
$27.5
$15.0
$171.4
$114.8
$56.6
1 Excludes income (loss) attributable to the noncontrolling interests of ($1.6) in Q3 2019, $0.2 in Q3 2018, ($2.3) for year-to-date 2019 and ($0.2) for year-to-date 2018.



The following information was filed by Andersons, Inc. (ANDE) on Tuesday, November 5, 2019 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (After-Tax Components Of Accumulated Other Comprehensive Loss) (Details)
Accumulated Other Comprehensive Loss (Reclassifications Out Of Accumulated Other Comprehensive Income) (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation And Consolidation
Basis Of Presentation And Consolidation (Details)
Basis Of Presentation And Consolidation (Policies)
Business Acquisitions
Business Acquisitions (Fair Value Of Assets Acquired And Liabilities Assumed) (Details)
Business Acquisitions (Intangible Assets Acquired) (Details)
Business Acquisitions (Pro Forma Financial Information) (Details)
Business Acquisitions (Purchase Price Allocation) (Details)
Business Acquisitions (Tables)
Business Acquisitions (Textual) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Details)
Debt (Tables)
Debt (Textual) (Details)
Derivatives
Derivatives (Fair Value Of The Company's Other Derivatives) (Details)
Derivatives (Gross Current And Noncurrent Assets And Liabilities) (Details)
Derivatives (Net Asset Or Liability Positions In Balance Sheet) (Details)
Derivatives (Outstanding Interest Rate Derivatives) (Details)
Derivatives (Pre-Tax Gains And Losses) (Details)
Derivatives (Tables)
Derivatives (Textual) (Details)
Derivatives (Volume Of Contracts Outstanding) (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Exit Costs And Assets Held For Sale
Exit Costs And Assets Held For Sale (Details)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured On Recurring Basis) (Details)
Fair Value Measurements (Fair Value Of Company's Long-Term Debt) (Details)
Fair Value Measurements (Reconciliation Of Beginning And Ending Balances Of Level 3 Measurements) (Details)
Fair Value Measurements (Tables)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Components Of Lease Cost) (Details)
Leases (Maturity Analysis Of Lease Liabilities) (Details)
Leases (Summary Of Amounts Recognized In Condensed Consolidated Balance Sheet) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Leases (Weighted Average Discount Rate) (Details)
Leases (Weighted Average Remaining Lease Term) (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Rail Group Assets) (Details)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment (Textual) (Details)
Related Party Transactions
Related Party Transactions (Company's Investment Balance In Equity Method Investees) (Details)
Related Party Transactions (Income (Loss) Earned From Company's Equity Method Investments) (Details)
Related Party Transactions (Tables)
Related Party Transactions (Textual) (Details)
Related Party Transactions (Transactions Entered Into For The Time Periods Presented) (Details)
Revenue
Revenue (Breakdown Of Revenues By Accounting Standards) (Details)
Revenue (Contract Liabilities Balances) (Details)
Revenue (Disaggregation Of Revenues) (Details)
Revenue (Tables)
Revenue (Textual) (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information (Textual) (Details)
Subsequent Events
Subsequent Events (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)

Material Contracts, Statements, Certifications & more

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

Ticker: ANDE
CIK: 821026
Form Type: 10-Q Quarterly Report
Accession Number: 0000821026-19-000076
Submitted to the SEC: Fri Nov 08 2019 7:34:17 AM EST
Accepted by the SEC: Fri Nov 08 2019
Period: Monday, September 30, 2019
Industry: Wholesale Farm Product Raw Materials

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