Andersons Q2 adjusted EPS beats analyst expectations
ANDE•Guidance and outlook
The company said it anticipates Port of Houston soybean meal export capabilities will be operational in the fourth quarter.
Andersons expects a full-year adjusted effective tax rate of 14% to 18%.
The company said it sees supportive ethanol market fundamentals and strong demand for renewable feedstocks.
Key drivers behind the quarter
- Renewables performance - Record Renewables segment results were driven by efficient plant operations, strong ethanol export demand, and $24 million in 45Z tax credits.
- Fertilizer margins - The Agribusiness segment improved on higher fertilizer margins despite lower volumes.
- Market volatility - Merchandising businesses benefited from periods of market volatility, improving results in both Agribusiness and Renewables.
Q2 results beat analyst expectations
US agriculture and renewable fuels company Andersons reported second-quarter adjusted earnings per share that beat analyst expectations.
- Q2 adjusted net income and adjusted EBITDA also beat analyst expectations.
- Sales and merchandising revenues declined slightly year over year, while the renewables segment delivered record results.
