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Sep 30, 2022
Andersons Q3 2022 Earnings Report
Reported strong quarterly results driven by Trade business and Renewables segment improvement.
Key Takeaways
The Andersons reported a strong third quarter, driven by excellent performance in the Trade business and improved results in the Renewables segment. The company's net income from continuing operations attributable to The Andersons was $17.4 million, or $0.50 per diluted share. The Trade segment benefited from strong elevation margins and merchandising results, while the Renewables segment saw better margins in ethanol plants. The Plant Nutrient segment experienced a pretax loss due to challenges in manufactured lawn products.
Net income from continuing operations attributable to The Andersons was $17.4 million, or $0.50 per diluted share.
EBITDA from continuing operations was $83.0 million for the quarter.
Trade reported pretax income of $40.7 million due to strong execution.
Renewables produced pretax income of $15.9 million, a significant year-over-year improvement.
Revenue by Segment
Forward Guidance
The company did provide an outlook for the remainder of 2022 and preliminary views for 2023, specifically mentioning expected margin declines into the fourth quarter will negatively impact performance as compared to the fourth quarter of 2021 when industry margins were at record highs.
Challenges Ahead
- Increased corn basis in the western U.S. may negatively impact ethanol margins in that region.
- Expected margin declines into the fourth quarter will negatively impact performance as compared to the fourth quarter of 2021 when industry margins were at record highs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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