Loading...
•
Mar 31, 2024
Andersons Q1 2024 Earnings Report
Reported fairly comparable results to the previous year, driven by strong performance in Renewables and improvement in Nutrient & Industrial's agricultural product lines, but offset by a challenging comparison in Trade.
Key Takeaways
The Andersons reported a net income attributable to the company of $6 million, or $0.16 per diluted share, with an EBITDA of $51 million. The Renewables segment doubled its 2023 results due to great operating performance in ethanol plants, while Nutrient & Industrial showed good improvement in its agricultural product lines. Trade faced a tough comparison against last year's record first quarter but still posted an above-average result.
Renewables segment doubled its 2023 results with strong ethanol plant operations.
Nutrient & Industrial segment experienced good improvement in agricultural product lines.
Trade segment faced a tough comparison against a record prior year but remained above average.
Company is actively pursuing growth opportunities across all business segments, including capital projects and acquisitions.
Revenue by Segment
Forward Guidance
The company anticipates continued growth through capital projects, acquisitions, and strategic partnerships, particularly focusing on renewable energy and lower-carbon commodities. They expect a favorable ethanol margin environment, especially in eastern plants, and anticipate strong demand in the Nutrient & Industrial segment pending improved planting conditions.
Positive Outlook
- Longer-term capital projects to lower the carbon intensity of ethanol plants are expected to result in positive financial results under the Inflation Reduction Act.
- Continued growth in volume merchandised by the renewable diesel feedstock team.
- Partnerships with large consumer products companies to source lower-carbon commodities from growers.
- Recent acquisition of Reed and Perrine expected to result in geographic expansion of the Turf business.
- Favorable ethanol margin environment, especially at the eastern plants.
Challenges Ahead
- Market sluggishness due to farmers' reluctance in a lower-price environment.
- Softer global demand for U.S. crops.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...