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Mar 31, 2023
Andersons Q1 2023 Earnings Report
Reported a net loss due to non-cash impairment, but Trade business had a record first quarter.
Key Takeaways
The Andersons, Inc. reported a net loss of $15 million, or $0.44 per diluted share, and adjusted net income of $7 million, or $0.20 per diluted share. The Trade business achieved a record first quarter with pretax income of $39 million. The Renewables segment experienced a pretax loss of $83 million due to a non-cash impairment. Nutrient & Industrial reported a pretax loss of $10 million due to declining fertilizer prices and deferred customer purchasing.
Trade business led the quarter with strong elevation margins and merchandising results.
Renewables faced lower ethanol crush margins but showed improvement on an adjusted basis.
Nutrient & Industrial was impacted by declining fertilizer prices and deferred customer purchasing.
Company is making progress on growth opportunities, focusing on core grain and fertilizer verticals.
Revenue by Segment
Forward Guidance
The company anticipates a full-year adjusted effective tax rate of approximately 22% - 25%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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