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Andersons, Inc. (ANDE) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

SEC Filings

Andersons, Inc.

CIK: 821026 Ticker: ANDE

logoa04a26.gif NEWS RELEASE

The Andersons, Inc. Reports Second Quarter Results; Best Q2 since 2014

MAUMEE, OHIO, August 3, 2021 - The Andersons, Inc. (Nasdaq: ANDE)
announces financial results for the second quarter ended June 30, 2021.

Second Quarter Highlights:

Company reported net income attributable to The Andersons of $43.5 million, or $1.30 per diluted share, and adjusted net income of $43.7 million, or $1.31 per diluted share. On an adjusted basis, this was our best second quarter since 2014.
Adjusted EBITDA was $118.1 million for the quarter, up $48.1 million year over year and represents the highest ever quarterly EBITDA. Trailing twelve month adjusted EBITDA exceeds $342 million.
Trade reported pretax income of $13.8 million and adjusted pretax income of $14.1 million on strong elevation margins and merchandising results.
Ethanol reported pretax income attributable to The Andersons of $23.5 million on improved co-product margins and strong trading results.
Plant Nutrient reported pretax income of $24.0 million on stronger margins in their key application season.
Rail reported pretax income of $3.1 million on end-of-life railcar sales.

"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."







The following information was filed by Andersons, Inc. (ANDE) on Tuesday, August 3, 2021 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 2021 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 Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Basis Of Presentation And Consolidation
Basis Of Presentation And Consolidation (Policies)
Commitments And Contingencies
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 Recurring Basis) (Details)
Fair Value Measurements (Quantitative Information Level 3 Measurements ) (Details)
Fair Value Measurements (Reconciliation Of Beginning And Ending Balances Of Level 3 Measurements) (Details)
Fair Value Measurements (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 (Components Of Lease Income) (Details)
Revenue (Disaggregation Of Revenues) (Details)
Revenue (Tables)
Revenue (Textual) (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information (Textual) (Details)
Ticker: ANDE
CIK: 821026
Form Type: 10-Q Quarterly Report
Accession Number: 0000821026-21-000160
Submitted to the SEC: Wed Aug 04 2021 1:37:49 PM EST
Accepted by the SEC: Wed Aug 04 2021
Period: Wednesday, June 30, 2021
Industry: Wholesale Farm Product Raw Materials

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