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Jun 30, 2025
Andersons Q2 2025 Earnings Report
The Andersons posted a sharp year-over-year decline in Q2 2025 net income and pretax performance despite solid results in Renewables and a strategic acquisition.
Key Takeaways
The Andersons reported Q2 2025 net income of $7.9M and EPS of $0.23, down significantly from the prior year. Adjusted EBITDA fell to $65.2M, impacted by weaker agribusiness margins and lower ethanol co-product values. The company also acquired full ownership of The Andersons Marathon Holdings LLC.
Net income attributable to The Andersons was $7.9M, down from $36.0M in Q2 2024.
Adjusted EBITDA declined to $65.2M from $98.3M YoY.
Agribusiness pretax income was $16.8M while Renewables delivered $9.6M.
The company acquired full ownership of TAMH for $425M, enhancing control over ethanol production.
Revenue by Segment
Forward Guidance
The Andersons expects full-year improvement in ethanol margins post-harvest and potential upside from carbon sequestration and port expansion projects, but overall outlook remains cautious due to grain oversupply and margin pressures.
Positive Outlook
- Full ownership of TAMH expected to drive earnings accretion and cash flow flexibility.
- Ethanol board crush rebounded in July, supporting future margins.
- EPA's renewable volume obligations may benefit Renewables segment.
- Clymers facility submitted carbon sequestration permit, signaling sustainability initiative.
- Large expected fall harvest may boost grain sales and merchandising volumes.
Challenges Ahead
- Grain oversupply and weak demand continue to suppress margins.
- Q2 net income and EPS declined over 75% YoY.
- Adjusted EBITDA fell $33M YoY due to weaker segment performance.
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
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