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Andersons, Inc. (ANDE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

SEC Filings

Andersons, Inc.

CIK: 821026 Ticker: ANDE

logoa04a2611.gif NEWS RELEASE

The Andersons, Inc. Reports Second Quarter Results and
Announces Business Structure and Organizational Changes
MAUMEE, OHIO, August 4, 2020 - The Andersons, Inc. (Nasdaq: ANDE)
announces financial results for the second quarter ended June 30, 2020 and business structure and organizational changes.

Second Quarter Highlights:

Company reported net income attributable to The Andersons of $30.4 million, or $0.92 per diluted share, and adjusted net income of $29.3 million, or $0.88 per diluted share.
Adjusted EBITDA attributable to the company was $70.7 million for the quarter.
Trade Group reported pretax income of $0.4 million and adjusted pretax income of $1.4 million despite a tough operating environment.
Ethanol Group reported pretax income attributable to the company of $0.9 million due to its timely maintenance shutdowns and improved ethanol margins.
Plant Nutrient Group recorded pretax income of $19.4 million driven by a strong planting season.
Rail Group earned $2.6 million of pretax income due to lower car sale income.
Company announced a reorganization of its business groups and several leadership changes.

"I am proud of what we were able to accomplish in the second quarter, as all four of our business groups were profitable,” said President and CEO Pat Bowe. "We are focused on transforming The Andersons into a more cost-efficient company positioned for scalable growth. Our vision is to be the most nimble and innovative North American ag supply chain company. The steps we are taking to transform the organization should ensure that we have the right vision at the right time to continue to serve our customers."

"Our Plant Nutrient Group's income was up more than 20 percent due to an excellent spring planting season," continued Bowe. "Our Ethanol Group's navigation of the unprecedented decrease in demand due to the COVID-19 crisis helped produce good results under those difficult conditions. The Trade Group continued to feel the effects of a small 2019 corn crop in the East. Both the Trade Group and the Rail Group both felt the persistent negative impact of the pandemic on customer demand. Both groups were profitable for the quarter."

“I want to again thank our employees, particularly those working in our plants and operations, for continuing to demonstrate their commitment to the company and to our customers and communities by keeping our businesses running safely and effectively during this time. We have maintained as our top priority, the health and safety of our employees, who have performed admirably in these difficult circumstances. We also extend our thanks to the health and safety personnel in our communities who have helped respond to the pandemic.”



The following information was filed by Andersons, Inc. (ANDE) on Tuesday, August 4, 2020 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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Andersons, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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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 (Policies)
Business Acquisitions
Business Acquisitions (Fair Value Of Assets Acquired And Liabilities Assumed) (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)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured On Nonrecurring Basis) (Details)
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)
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 Parties
Related Parties (Details)
Related Parties (Tables)
Revenue
Revenue (Breakdown Of Revenues By Accounting Standards) (Details)
Revenue (Disaggregation Of Revenues) (Details)
Revenue (Tables)
Revenue (Textual) (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information (Textual) (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: ANDE
CIK: 821026
Form Type: 10-Q Quarterly Report
Accession Number: 0000821026-20-000041
Submitted to the SEC: Fri Aug 07 2020 9:28:39 AM EST
Accepted by the SEC: Fri Aug 07 2020
Period: Tuesday, June 30, 2020
Industry: Wholesale Farm Product Raw Materials

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