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Dec 31, 2020
Andersons Q4 2020 Earnings Report
Reported improved fourth quarter results year over year, with Trade income up substantially and Plant Nutrient's full-year results nearly doubled.
Key Takeaways
The Andersons, Inc. reported net income attributable to the company of $16.0 million, or $0.48 per diluted share, and adjusted net income of $19.4 million, or $0.59 per diluted share for the fourth quarter ended December 31, 2020. The company's Trade income was up substantially, and Plant Nutrient's full-year results nearly doubled.
Net income attributable to The Andersons was $16.0 million, or $0.48 per diluted share.
Adjusted net income was $19.4 million, or $0.59 per diluted share.
Trade reported pretax income of $28.3 million and adjusted pretax income of $29.3 million on improved merchandising results.
Plant Nutrient completed its best year since 2014, recording pretax income of $3.2 million for the quarter.
Forward Guidance
The Andersons anticipates improved financial performance in 2021, driven by strength in ag markets and recovery in ethanol and rail markets.
Positive Outlook
- Strong demand-driven rally in grain and fertilizer markets.
- Multi-year highs in grain elevation margins.
- Strong export demand.
- Strong fertilizer demand throughout the fourth quarter.
- More planted corn acres in the forecast, indicating continued strong fertilizer demand.
Challenges Ahead
- Weak railcar demand.
- Impact of lower crush margins in the Ethanol segment.
- Lower income from railcar sales.
- The performance of the segment's asset-based businesses declined, as income from both storing and handling grain decreased.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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