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Dec 31, 2022
Andersons Q4 2022 Earnings Report
Reported strong fourth quarter results and record full year earnings.
Key Takeaways
The Andersons, Inc. reported net income from continuing operations attributable to The Andersons of $15 million, or $0.44 per diluted share, and adjusted net income from continuing operations of $34 million, or $0.98 per diluted share. The Trade segment reported record adjusted pretax income, while Renewables saw solid plant performance.
Net income from continuing operations attributable to The Andersons was $15 million, or $0.44 per diluted share.
Adjusted net income from continuing operations was $34 million, or $0.98 per diluted share.
Trade segment reported pretax income of $27 million and record adjusted pretax income of $52 million.
Renewables segment reported pretax income of $19 million.
Forward Guidance
The company expects strong ag supply chain opportunities in 2023, continued worldwide demand, supply uncertainty due to the war in Ukraine, and potential weather impacts in global grain production regions.
Positive Outlook
- Strong ag supply chain opportunities are expected to remain very strong in 2023.
- Continued worldwide demand coupled with supply uncertainty due to the ongoing war in Ukraine.
- Potential weather impacts in global grain production regions, continues to keep commodity prices relatively high.
- Corn oil demand is expected to remain high
- Merchandising of low-carbon-intensive renewable feedstocks should remain strong as additional renewable diesel facilities begin operations driving significant growth.
Challenges Ahead
- Ethanol board crush margins for the 2022 fourth quarter were down over $0.90/gallon from the very strong fourth quarter of 2021.
- Spot ethanol crush margins have declined into 2023.
- Likely at more normalized margins for plant nutrients.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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