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Mar 31, 2022
Andersons Q1 2022 Earnings Report
Reported a net income of $6.1 million and Plant Nutrient set a record.
Key Takeaways
The Andersons, Inc. reported first quarter results with a net income attributable to the company from continuing operations of $6.1 million, or $0.18 per diluted share. Plant Nutrient reported record first quarter pretax income of $10.7 million. Renewables had a strong quarter with pretax income of $5.5 million. Trade reported pretax income of $3.7 million.
Net income attributable to The Andersons from continuing operations was $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.
Revenue by Segment
Forward Guidance
The company believes that they are well-positioned in all businesses for the remainder of 2022. They are closely monitoring the weather-related planting delays in both corn and soybeans and expect planting activities to ramp up quickly as soon as fields allow it. They have an opportunity to earn good elevation margins on their grain position. Ethanol margins have strengthened as they entered the spring maintenance season along with seasonal increases in driving demand and expectations for an increased U.S. export program. Their renewable feedstock business continues to grow and they are exploring further opportunities to improve corn oil production and quality from their plants.
Positive Outlook
- Opportunity to earn good elevation margins on grain position.
- Ethanol margins have strengthened due to spring maintenance and increased driving demand.
- Expectations for an increased U.S. export program.
- Renewable feedstock business continues to grow.
- Exploring opportunities to improve corn oil production and quality.
Challenges Ahead
- Monitoring weather-related planting delays in corn and soybeans.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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