Last10K.com

Andersons, Inc. (ANDE) SEC Filing 8-K Material Event for the period ending Tuesday, May 3, 2022

Andersons, Inc.

CIK: 821026 Ticker: ANDE
Exhibit 99.1
ande75.jpg NEWS RELEASE

The Andersons, Inc. Reports First Quarter Results; Plant Nutrient Sets Record
MAUMEE, OHIO, May 3, 2022
- The Andersons, Inc. (Nasdaq: ANDE) announces financial results for the first quarter ended March 31, 2022.

First Quarter Highlights:

Company reported net income attributable to The Andersons from continuing operations of $6.1 million, or $0.18 per diluted share
EBITDA from continuing operations was $55.8 million for the quarter
Plant Nutrient reported record first quarter pretax income of $10.7 million
Renewables had a strong quarter with pretax income of $5.5 million despite an $8.3 million mark to market loss, most of which is expected to reverse in Q2
Trade reported pretax income of $3.7 million amid global disruption and against higher 2021 results; amassing strong grain ownership positions at low basis values
Amended and extended credit agreement, expanding capacity and extending maturity date to 2027

"The grain markets were impacted by the extreme run-up in futures prices resulting from the war in Ukraine. This drove grain basis values sharply lower. I'm proud of the merchandising teams as they worked through this unprecedented price volatility which allowed us to take larger ownership positions at good basis values," said President and CEO Pat Bowe. "Plant Nutrient continued its strong run by setting its second consecutive quarterly earnings record. This strong performance resulted from well-positioned inventory and particularly strong specialty liquid results. In Renewables, production volume increased for both ethanol and corn oil. Renewable feedstocks and co-product merchandising were well above expectations."

"We continue to believe that we are well-positioned in all businesses for the remainder of 2022. We are closely monitoring the weather-related planting delays in both corn and soybeans. While progress is being made, we are behind the five-year national average for this date and expect planting activities to ramp up quickly as soon as fields allow it. We have an opportunity to earn good elevation margins on our grain position. Ethanol margins have strengthened as we entered the spring maintenance season along with seasonal increases in driving demand and expectations for an increased U.S. export program. Our renewable feedstock business continues to grow and we are exploring further opportunities to improve corn oil production and quality from our plants," added Bowe. "Fertilizer prices and farm income both remain very high, and while producers are feeling the impact of high input costs, commodity prices still support fertilizer application. We continue to receive good support from our suppliers in this time of tight stocks. Supply remains a factor in our industry and market prices reflect reduced global stocks for most fertilizers and grains. Our teams are executing well and remain focused on customer needs and operational excellence."





$ in millions, except per share amounts
YTD 2022
YTD 2021
Variance
Pretax Income Attributable to the Company1,2
$10.2 $16.0 $(5.8)
Adjusted Pretax Income (Loss) Attributable to the Company1,2
10.2 16.4 (6.2)
     Trade1
3.7 14.3 (10.6)
     Renewables5.5 2.9 2.6 
     Plant Nutrient10.7 8.5 2.2 
     Other1
(9.8)(9.3)(0.5)
Net Income Attributable to the Company2
6.1 11.6 (5.5)
Adjusted Net Income Attributable to the Company1,2
6.1 12.0 (5.9)
Diluted Earnings Per Share (EPS)2
0.18 0.35 (0.17)
Adjusted Diluted EPS1,2
0.18 0.36 (0.18)
EBITDA1,2
55.8 62.7 (6.9)
Adjusted EBITDA1,2
$55.8 $63.2 $(7.4)
1 Non-GAAP financial measures; see appendix for explanations and reconciliations. 2 Measure represents only continuing operations of the Company.


First Quarter Segment Overview


Trade Results Decline on Market Disruptions; Large Ownership Position Accumulated

The Trade segment recorded pretax income of $3.7 million for the quarter compared to adjusted pretax income of $14.3 million in the first quarter of 2021. Despite strong performance in international merchandising, dramatic increases in futures prices drove quarter-over-quarter negative basis variance in domestic grain positions of nearly $5 million. Capitalizing on the high commodity prices, Trade has accumulated strong grain positions at good basis values. Additionally, good 2022 results in propane merchandising did not match last year's outsized performance during the unseasonably frigid February weather in the central U.S.

Planting for the Midwest is expected to ramp up quickly, despite a slow start. Continued merchandising opportunities and strong elevation margins are expected through the remainder of the year as global stocks are not projected to recover even with an excellent harvest. The outlook for the grain elevator assets is improved with storage income earned on wheat inventory. Expected basis appreciation into harvest will drive improved elevation margins.

Trade’s first quarter EBITDA was $20.8 million, compared to first quarter 2021 adjusted EBITDA of $32.5 million on lower earnings.


Renewables Results Improve to $5.5 million on Better Crush Margins; Co-Product Values and Merchandising Remain Strong

The Renewables segment reported pretax income attributable to the company of $5.5 million in the first quarter compared to pretax income attributable to the company of $2.9 million realized in the same period in 2021.





The quarter-over-quarter improvement was driven by improved margins at all ethanol plants. Strong feed and distillers corn oil values continued. Profitable third-party trading of ethanol, DDGs, and renewable feedstocks more than doubled last year's first quarter result. Improving industry fundamentals include increased seasonal demand along with production declines during the spring maintenance season and expected increases in exports. Ethanol stocks remain high compared to last year's very low levels but board crush has improved over the last few weeks.

Renewables had record first quarter EBITDA of $24.4 million in 2022, up $2.4 million from 2021 first quarter EBITDA of $22.0 million.


Plant Nutrient Posts Record First Quarter Results; Second Consecutive Quarterly Record

The Plant Nutrient segment posted record pretax income of $10.7 million, compared to 2021's pretax income of $8.5 million. Strong margins more than offset a volume decrease for most of our agricultural fertilizers, particularly within specialty liquids low-salt starters and wholesale nutrients. With high grain prices and tight fertilizer supply, this is expected to continue into the second quarter. Plant labor and logistical challenges lowered results for our turf and specialty products. Plant Nutrient’s record first quarter EBITDA was $18.8 million compared to 2021 first quarter EBITDA of $16.0 million.


Income Taxes; Corporate

The company has recorded income taxes from continuing operations at an effective rate of 38.7% for the first quarter due to the non-deductibility of mark-to-market adjustments and the tax treatment of non-controlling interests. We anticipate a full-year effective rate of approximately 22%-25%.


Conference Call

The company will host a webcast on Wednesday, May 4, 2022, at 11 a.m. Eastern Daylight Time, to discuss its performance and provide its outlook for the remainder of 2022. To access the call, please dial 888-317-6003 or 412-317-6061 (elite entry number is 3679351). It is recommended that you call 10 minutes before the conference call begins.

To access the webcast, click on the link: https://app.webinar.net/OzegpVQ9Jr1. Complete the six fields as directed and click "Register." A replay of the call can also be accessed under the heading "Investors" on the company’s refreshed website at www.andersonsinc.com.  


Forward-Looking Statements

This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, the COVID-19 pandemic, the ongoing economic impacts from the war in Ukraine and the risk factors set forth from time to time in the company’s filings with the Securities and Exchange Commission. Although the company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.



Non-GAAP Measures

This release contains non-GAAP financial measures. The company believes that adjusted pretax income (loss) from continuing operations, pretax income (loss) attributable to the company from continuing operations, adjusted pretax income (loss) attributable to the company from continuing operations, adjusted net income attributable to the company from continuing operations, adjusted diluted earnings per share from continuing operations; earnings before interest, taxes, depreciation, and amortization (or EBITDA); EBITDA from continuing operations; adjusted EBITDA; adjusted EBITDA from continuing operations; and cash from operations before working capital changes provide additional information to investors and others about its operations, allowing an evaluation of underlying operating performance and liquidity and better period-to-period comparability. The above measures are not and should not be considered as alternatives to net income from continuing operations, pretax income from continuing operations or income (loss) before income taxes from continuing operations, diluted earnings (loss) per share attributable to The Andersons, Inc. common shareholders from continuing operations and cash provided by (used in) operating activities as determined by generally accepted accounting principles. Reconciliations of the GAAP to non-GAAP measures may be found within this press release and the financial tables provided herein.


Company Description

The Andersons, Inc., celebrating 75 years of service and named to Forbes® lists of America's Best Employers for 2022 and Best Employers for Diversity 2022 as well as America's Most Trusted Companies 2022 by Newsweek®, is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons is committed to providing extraordinary service to its customers, helping its employees improve, supporting its communities, and increasing the value of the company. For more information, please visit www.andersonsinc.com.


Investor Relations Contact    
Mike Hoelter    
Vice President, Corporate Controller and Investor Relations
Phone: 419-897-6715
E-mail: investorrelations@andersonsinc.com







The Andersons, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
Three months ended March 31,
(in thousands, except per share data)20222021
Sales and merchandising revenues$3,977,954 $2,594,719 
Cost of sales and merchandising revenues3,858,419 2,481,278 
Gross profit119,535 113,441 
Operating, administrative and general expenses101,987 96,998 
Interest expense, net10,859 9,989 
Other income, net:
Equity in earnings (losses) of affiliates, net(244)1,794 
Other income, net4,162 5,868 
Income before income taxes from continuing operations10,607 14,116 
Income tax provision from continuing operations4,103 4,361 
Net income from continuing operations6,504 9,755 
Income (loss) from discontinued operations, net of income taxes(554)3,507 
Net income5,950 13,262 
Net income (loss) attributable to noncontrolling interests447 (1,845)
Net income attributable to The Andersons, Inc.$5,503 $15,107 
Earnings per share attributable to The Andersons, Inc. common shareholders:
Basic earnings (loss):
Continuing operations$0.18 $0.35 
Discontinued operations(0.02)0.11 
$0.16 $0.46 
Diluted earnings (loss):
Continuing operations$0.18 $0.35 
Discontinued operations(0.02)0.10 
$0.16 $0.45 







The Andersons, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)March 31, 2022December 31, 2021March 31, 2021
Assets
Current assets:
  Cash and cash equivalents$36,381 $216,444 $35,393 
  Accounts receivable, net1,050,259 835,180 677,118 
  Inventories1,950,303 1,814,538 1,287,637 
  Commodity derivative assets – current769,916 410,813 317,939 
  Current assets held-for-sale20,255 20,885 37,136 
  Other current assets113,589 74,468 81,666 
Total current assets3,940,703 3,372,328 2,436,889 
Other assets:
Goodwill129,342 129,342 131,542 
Other intangible assets, net111,055 117,137 133,198 
Right of use assets, net51,821 52,146 34,966 
Other assets held-for-sale45,264 43,169 629,228 
Other assets, net92,506 69,068 60,964 
Total other assets429,988 410,862 989,898 
Property, plant and equipment, net772,245 786,029 839,950 
Total assets$5,142,936 $4,569,219 $4,266,737 
 
Liabilities and equity
Current liabilities:
  Short-term debt$1,449,768 $501,792 $915,205 
  Trade and other payables741,124 1,199,324 534,660 
  Customer prepayments and deferred revenue384,723 358,119 161,696 
  Commodity derivative liabilities – current216,836 128,911 91,448 
  Current maturities of long-term debt54,158 32,256 42,824 
  Current liabilities held-for-sale10,200 13,379 26,362 
  Accrued expenses and other current liabilities205,958 230,148 145,921 
Total current liabilities3,062,767 2,463,929 1,918,116 
Long-term lease liabilities31,419 31,322 21,210 
Long-term debt, less current maturities571,181 600,487 877,583 
Deferred income taxes68,437 71,127 173,481 
Other long-term liabilities held-for-sale14,738 16,119 45,172 
Other long-term liabilities77,173 78,531 48,624 
Total liabilities3,825,715 3,261,515 3,084,186 
Total equity 1,317,221 1,307,704 1,182,551 
Total liabilities and equity$5,142,936 $4,569,219 $4,266,737 





The Andersons, Inc.
Consolidated Statements of Cash Flows
(unaudited)
 Three months ended March 31,
 (in thousands)20222021
Operating Activities
Net income from continuing operations$6,504 $9,755 
Income (loss) from discontinued operations, net of income taxes(554)3,507 
Net income5,950 13,262 
Adjustments to reconcile net income to cash used in operating activities:
Depreciation and amortization34,377 47,504 
Bad debt expense, net1,255 (1,686)
Equity in (earnings) losses of affiliates, net of dividends244 (1,794)
Gain on sales of assets, net(81)(2,635)
Stock-based compensation expense1,818 1,990 
Deferred federal income tax(6,947)(2)
Other2,885 4,579 
Changes in operating assets and liabilities:
Accounts receivable(215,012)(33,476)
Inventories(136,820)5,007 
Commodity derivatives(277,761)(53,295)
Other current and non-current assets(38,810)16,740 
Payables and other current and non-current liabilities(446,096)(441,921)
Net cash used in operating activities(1,074,998)(445,727)
Investing Activities
Purchases of property, plant and equipment and capitalized software(20,722)(16,919)
Proceeds from sale of assets72 385 
Purchases of investments(1,333)(2,800)
Purchases of Rail assets(3,186)(2,611)
Proceeds from sale of Rail assets248 5,383 
Other 832 
Net cash used in investing activities(24,921)(15,730)
Financing Activities
Net receipts under short-term lines of credit796,209 260,160 
Proceeds from issuance of short-term debt350,000 250,000 
Payments of short-term debt(200,000)— 
Proceeds from issuance of long-term debt 89,700 
Payments of long-term debt(7,566)(125,884)
Contributions from noncontrolling interest owner2,450 1,960 
Distributions to noncontrolling interest owner(9,980)— 
Payments of debt issuance costs(7,310)(1,225)
Dividends paid(6,144)(5,839)
Proceeds from exercises of stock options5,024 — 
Other(2,926)(1,110)
Net cash provided by financing activities919,757 467,762 
Effect of exchange rates on cash and cash equivalents99 (35)
Increase (decrease) in cash and cash equivalents(180,063)6,270 
Cash and cash equivalents at beginning of period216,444 29,123 
Cash and cash equivalents at end of period$36,381 $35,393 



The Andersons, Inc.
Adjusted Net Income Attributable to The Andersons, Inc.
A non-GAAP financial measure
(unaudited)
Three months ended March 31,
(in thousands, except per share data)20222021
Net income from continuing operations$6,504 $9,755 
Net income (loss) attributable to noncontrolling interests447 (1,845)
Net income from continuing operations attributable to The Andersons, Inc.6,057 11,600 
Adjustments:
Transaction related stock compensation 483 
Income tax impact of adjustments (121)
Total adjusting items, net of tax 362 
Adjusted net income from continuing operations attributable to The Andersons, Inc. $6,057 $11,962 
Diluted earnings from continuing operations attributable to The Andersons, Inc. common shareholders$0.18 $0.35 
Impact on diluted earnings per share from continuing operations$ $0.01 
Adjusted diluted earnings from continuing operations per share$0.18 $0.36 


Adjusted net income (loss) from continuing operations attributable to The Andersons, Inc. reflects reported net income (loss) from continuing operations available to The Andersons, Inc. common shareholders after the removal of specified items described above. Adjusted diluted earnings (loss) from continuing operations per share reflects the fully diluted EPS of The Andersons, Inc. after removal of the effect on EPS as reported of specified items described above. Management believes that Adjusted net income (loss) from continuing operations attributable to The Andersons, Inc. and Adjusted diluted earnings (loss) from continuing operations per share are useful measures of The Andersons, Inc. performance as they provide investors additional information about the operations of the company allowing better evaluation of underlying business performance and better comparability to previous periods. These non-GAAP financial measures are not intended to replace or be alternatives to Net income attributable to The Andersons, Inc. and Diluted earnings attributable to The Andersons, Inc. common shareholders as reported, the most directly comparable GAAP financial measures, or any other measures of operating results under GAAP. Earnings amounts described above have been divided by the company’s average number of diluted shares outstanding for each respective period in order to arrive at an adjusted diluted earnings (loss) from continuing operations per share amount for each specified item.




The Andersons, Inc.
Segment Data (continued)
(unaudited)
(in thousands)TradeRenewablesPlant NutrientOtherTotal
Three months ended March 31, 2022
Sales and merchandising revenues$3,084,681 $683,231 $210,042 $ $3,977,954 
Gross profit67,619 15,191 36,725  119,535 
Operating, administrative and general expenses59,543 7,890 25,325 9,229 101,987 
Other income (loss), net4,024 428 804 (1,094)4,162 
Income (loss) before income taxes from continuing operations3,669 5,962 10,743 (9,767)10,607 
Income (loss) attributable to noncontrolling interests 447   447 
Income (loss) before income taxes from continuing operations attributable to The Andersons, Inc. (a)$3,669 $5,515 $10,743 $(9,767)$10,160 
Three months ended March 31, 2021
Sales and merchandising revenues$1,982,508 $442,959 $169,252 $— $2,594,719 
Gross profit72,557 8,483 32,401 — 113,441 
Operating, administrative and general expenses56,931 6,656 23,399 10,012 96,998 
Other income (loss), net3,486 1,327 587 468 5,868 
Income (loss) before income taxes from continuing operations13,855 1,081 8,523 (9,343)14,116 
Income (loss) attributable to noncontrolling interests— (1,845)— — (1,845)
Income (loss) before income taxes from continuing operations attributable to The Andersons, Inc. (a)$13,855 $2,926 $8,523 $(9,343)$15,961 
Adjustments to income (loss) before income taxes from continuing operations (b)483 — — — 483 
Adjusted income (loss) before income taxes from continuing operations attributable to The Andersons, Inc. (a)$14,338 $2,926 $8,523 $(9,343)$16,444 
(a) Income (loss) from continuing operations before income taxes attributable to The Andersons, Inc. for each operating segment is defined as net sales and merchandising revenues plus identifiable other income less all identifiable operating expenses, including interest expense for carrying working capital and long-term assets and is reported net of the noncontrolling interest share of income.
(b) Additional information on the individual adjustments that are included in the adjustments to income (loss) from continuing operations before income taxes can be found in the Reconciliation to EBITDA and Adjusted EBITDA table.





The Andersons, Inc.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
A non-GAAP financial measure
(unaudited)
Continuing OperationsDiscontinued OperationsTotal Company
(in thousands)TradeRenewablesPlant NutrientOtherTotalRail
Three months ended March 31, 2022
Net income (loss)$3,669 $5,962 $10,743 $(13,870)$6,504 $(554)$5,950 
Interest expense (income)8,187 1,767 1,461 (556)10,859  10,859 
Tax provision   4,103 4,103 1,292 5,395 
Depreciation and amortization8,974 16,639 6,579 2,185 34,377  34,377 
EBITDA$20,830 $24,368 $18,783 $(8,138)$55,843 $738 $56,581 
Three months ended March 31, 2021
Net income (loss)$13,855 $1,081 $8,523 $(13,704)$9,755 $3,507 $13,262 
Interest expense (income)7,051 2,073 1,066 (201)9,989 3,180 13,169 
Tax provision— — — 4,361 4,361 1,384 5,745 
Depreciation and amortization11,125 18,814 6,381 2,297 38,617 8,887 47,504 
EBITDA32,031 21,968 15,970 (7,247)62,722 16,958 79,680 
Adjusting items impacting EBITDA:
Transaction related stock compensation483 — —  483 — 483 
Total adjusting items483 — — — 483 — 483 
Adjusted EBITDA$32,514 $21,968 $15,970 $(7,247)$63,205 $16,958 $80,163 





The Andersons, Inc.
Trailing Twelve Months of EBITDA and Adjusted EBITDA
A non-GAAP financial measure
(unaudited)

Three Months Ended,
 Twelve months ended March 31, 2022
(in thousands)June 30, 2021September 30, 2021December 31, 2021March 31, 2022
Net income from continuing operations$44,024 $12,290 $65,473 $6,504 $128,291 
Interest expense10,060 8,799 8,444 10,859 38,162 
Tax provision9,677 4,027 11,163 4,103 28,970 
Depreciation and amortization38,949 42,811 36,797 34,377 152,934 
EBITDA102,710 67,927 121,877 55,843 348,357 
Adjusting items impacting EBITDA:
Transaction related stock compensation274 243 274  791 
Gain on sale of a business (14,619)  (14,619)
Loss from cost method investment 2,784   2,784 
Asset impairments  8,321  8,321 
Total adjusting items274 (11,592)8,595  (2,723)
Adjusted EBITDA$102,984 $56,335 $130,472 $55,843 $345,634 
Three Months Ended,
Twelve months ended March 31, 2021
June 30, 2020September 30, 2020December 31, 2020March 31, 2021
Net income from continuing operations$10,290 $1,788 $15,917 $9,755 $37,750 
Interest expense7,994 6,853 7,833 9,989 32,669 
Tax provision (benefit)(5,064)(4,148)7,718 4,361 2,867 
Depreciation and amortization38,128 38,387 38,568 38,617 153,700 
EBITDA51,348 42,880 70,036 62,722 226,986 
Adjusting items impacting EBITDA:
Transaction related stock compensation1,017 912 946 483 3,358 
Severance costs2,341 3,222 528 — 6,091 
Total adjusting items3,358 4,134 1,474 483 9,449 
Adjusted EBITDA$54,706 $47,014 $71,510 $63,205 $236,435 





The Andersons, Inc.
Cash from Operations Before Working Capital Changes
A non-GAAP financial measure
(unaudited)
Three months ended March 31,
(in thousands)20222021
Cash used in operating activities$(1,074,998)$(445,727)
Changes in operating assets and liabilities
Accounts receivable(215,012)(33,476)
Inventories(136,820)5,007 
Commodity derivatives(277,761)(53,295)
Other current and non-current assets(38,810)16,740 
Payables and other current and non-current liabilities(446,096)(441,921)
Total changes in operating assets and liabilities(1,114,499)(506,945)
Adjusting items impacting cash from operations before working capital changes:
Changes in CARES Act tax refund receivable 27,697 
Cash from operations before working capital changes$39,501 $88,915 


Cash from operations before working capital changes is defined as cash provided by (used in) operating activities before the impact of changes in working capital within the statement of cash flows. The Company calculates cash from operations by eliminating the effect of changes in accounts receivable, inventories, commodity derivatives, other assets, and payables and accrued expenses from the cash provided by (used in) operating activities. Management believes that cash from operations before working capital changes is a useful measure of the company’s performance as it provides investors additional information about the company’s operations allowing better evaluation of underlying business performance and improved comparability to prior periods. Cash from operations before working capital changes is a non-GAAP financial measure and is not intended to replace or be an alternative to cash provided by (used in) operating activities, the most directly comparable GAAP financial measure.


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
FORM 8-K
______________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):May 3, 2022
__________________________________________
ande-20220503_g1.jpg
The Andersons, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Ohio000-2055734-1562374
(State of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
1947 Briarfield Boulevard
Maumee, Ohio 43537
(Address of principal executive offices) (Zip Code)

(419) 893-5050
(Registrant’s telephone number, including area code)
__________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
__________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: Trading Symbol Name of each exchange on which registered:
Common stock, $0.00 par value, $0.01 stated value ANDE The NASDAQ Stock Market LLC
__________________________________________
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
[] Emerging growth company
[] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 2.02 Results of Operations and Financial Condition.

The Andersons, Inc. issued a press release announcing its first quarter 2022 earnings. This press release is attached as exhibit 99.1 to this filing.

Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit No.Description
99.1
104Inline XBRL for the cover page of this Current Report on Form 8-K




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
The Andersons, Inc.
May 3, 2022By:/s/ Brian A. Valentine
Brian A. Valentine
Executive Vice President
and Chief Financial Officer


View differences made from one to another to evaluate Andersons, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 8-K Corporate News to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Andersons, Inc..

Continue

Assess how Andersons, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Andersons, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 8-K Corporate News

Material Contracts, Statements, Certifications & more

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

Ticker: ANDE
CIK: 821026
Form Type: 8-K Corporate News
Accession Number: 0000821026-22-000125
Submitted to the SEC: Tue May 03 2022 4:22:10 PM EST
Accepted by the SEC: Tue May 03 2022
Period: Tuesday, May 3, 2022
Industry: Wholesale Farm Product Raw Materials
Events:
  1. Earnings Release
  2. Financial Exhibit

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ande/0000821026-22-000125.htm