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Jun 30, 2021
Andersons Q2 2021 Earnings Report
Reported best Q2 since 2014 and highest ever quarterly EBITDA.
Key Takeaways
The Andersons, Inc. reported a strong second quarter with net income attributable to the company of $43.5 million, or $1.30 per diluted share. Adjusted EBITDA was $118.1 million, up $48.1 million year over year, representing the highest ever quarterly EBITDA. Each of the four businesses delivered outstanding, year-over-year improvement.
Net income attributable to The Andersons was $43.5 million, or $1.30 per diluted share.
Adjusted EBITDA was $118.1 million, up $48.1 million year over year.
Trade reported pretax income of $13.8 million and adjusted pretax income of $14.1 million.
Ethanol reported pretax income attributable to The Andersons of $23.5 million.
Forward Guidance
The company expects that North American demand will remain strong and currently anticipate large harvests in our key draw areas this fall which should drive strong performance into 2022.
Positive Outlook
- North American demand will remain strong.
- Large harvests are anticipated in key draw areas this fall.
- Strong performance is expected into 2022.
- Continued merchandising opportunities due to scarcity of supply entering this fall harvest.
- Crop conditions in the majority of draw area are excellent and company is preparing for a large harvest.
Challenges Ahead
- Ethanol margins have been volatile.
- Short-term borrowings reflect the impact of higher commodity prices on working capital lines.
- Operating and interest expense for the Trade segment were up $9 million primarily due to higher incentive compensation and commodity prices.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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