Financial Performance - The Company reported total sales and merchandising revenues of $3,273.726 million for the three months ended June 30, 2021, compared to $2,297.869 million in the same period of the previous year, reflecting a significant increase [109]. - The gross profit for the Company was $174.044 million for the three months ended June 30, 2021, compared to $77.831 million in the same period of 2020, indicating a substantial improvement in profitability [109]. - Total sales and merchandising revenues for the six months ended June 30, 2021, reached $5,909,455 thousand, compared to $5,612,699 thousand in the same period last year [119]. - Gross profit for the six months ended June 30, 2021, was $296,756 thousand, an increase from the previous year's $169,396 thousand [120]. - Sales and merchandising revenues for the Trade Group increased by $946.7 million, resulting in a net gross profit impact of $18.4 million due to improved merchandising results and increased commodity prices [112]. - Ethanol Group's sales and merchandising revenues rose by $392.8 million, leading to a gross profit increase of $37.3 million, primarily driven by improved ethanol margins and higher coproduct sales [114]. - Plant Nutrient Group's sales and merchandising revenues increased by $41.6 million, resulting in a gross profit increase of $12.1 million, supported by higher spring demand and strong grower income [115]. Operational Efficiency - Average utilization rates in the Rail segment increased from 88.3% in Q2 2020 to 89.7% in Q2 2021, indicating improved operational efficiency [106]. - Ethanol Group operating results increased by $49.6 million year-over-year, with sales and merchandising revenues up by $522.7 million, leading to a gross profit increase of $75.2 million [123]. - Plant Nutrient Group operating results rose by $14.3 million, with sales and merchandising revenues increasing by $85.9 million, resulting in a gross profit increase of $24.1 million [124]. - Rail Group operating results increased by $4.3 million, with sales and merchandising revenues up by $6.4 million, although gross profit decreased by $0.5 million due to increased cost of sales [125]. Inventory and Demand - Agricultural inventories on hand at June 30, 2021, were 85.8 million bushels, up from 74.4 million bushels at June 30, 2020, showing a year-over-year increase of approximately 18.6% [98]. - The Ethanol Group shipped 186,396 thousand gallons in the second quarter of 2021, a 56% increase from 119,528 thousand gallons in the same period of 2020 [102]. - The Company anticipates continued merchandising opportunities into harvest due to supply scarcity impacting overall prices, with expectations of high prices and strong elevation margins continuing into 2022 [98]. - The Ethanol Group experienced improved crush margins and overall ethanol demand, reflecting a recovery from the previous year's COVID-19 impact [99]. - The Plant Nutrient Group expects continued higher fertilizer prices and strong demand into the fall application season, driven by favorable weather and strong grower income [101]. - The Company has maintained a positive long-term outlook for agricultural commodities, driven by market volatility from supply scarcity and strong demand [96]. Expenses and Liabilities - Operating, administrative, and general expenses increased by $6.5 million, mainly due to higher incentive compensation costs from improved operating results [113]. - Interest expense rose by $2.4 million due to higher group borrowings on the Company's short-term line of credit compared to the prior year [113]. - Current liabilities increased by $763.8 million, primarily due to higher short-term debt and trade payables, reflecting rising agricultural commodity prices [129]. - The company recorded an income tax expense of $10.6 million for the three months ended June 30, 2021, with an effective tax rate of 18.7% [118]. - The company recorded an income tax expense of $16.4 million for the six months ended June 30, 2021, with an effective tax rate of 21.6%, compared to a tax benefit of $13.7 million and a rate of 30.5% in the prior year [127]. Cash Flow and Investments - Net cash used in operating activities was $245.5 million for the first six months of 2021, compared to cash provided of $145.5 million in the same period of 2020 [131]. - Financing activities provided cash of $267.6 million for the six months ended June 30, 2021, largely due to increased short-term borrowings to meet working capital needs [133]. - The company expects to invest approximately $100 million in property, plant, and equipment in 2021, with about 60% allocated for maintaining facilities [132]. - The company paid $11.7 million in dividends in the first six months of 2021, slightly up from $11.5 million in the prior year, maintaining a dividend of $0.175 per common share [134].

Financial Data and Key Metrics Changes - The company reported net income of $15.1 million or $0.45 per diluted share for Q1 2021, a significant recovery from a net loss of $37.7 million or $1.15 per diluted share in Q1 2020 [10] - Adjusted EBITDA for Q1 2021 was $80.2 million, compared to $11.2 million in Q1 2020, indicating strong performance across all business segments [10] - Revenues increased to $2.6 billion in Q1 2021 from $1.9 billion in Q1 2020, reflecting a year-over-year growth of approximately 37% [10] Business Line Data and Key Metrics Changes - The trade segment reported adjusted pretax income of $14.3 million in Q1 2021, compared to an adjusted pretax loss of $8.7 million in Q1 2020, driven by strong merchandising results [13] - The ethanol segment achieved pre-tax income of $2.9 million in Q1 2021, a significant improvement from the loss in the same period last year, with EBITDA rising to $22 million from a loss of $17.5 million [14][16] - The plant nutrient business recorded pre-tax income of $8.5 million, its best first quarter since 2008, with EBITDA increasing to $16 million, up over $9 million from the previous year [16] - The rail business reported pre-tax earnings of $4.9 million, up from $1 million in Q1 2020, with EBITDA increasing to $17 million from $14.4 million [17] Market Data and Key Metrics Changes - The company noted robust export demand, particularly from China, with USDA projecting record imports of feed grains [18] - The current market volatility is seen as providing significant opportunities, particularly in the ag sector, with tight supplies expected to persist into the fall harvest [19] Company Strategy and Development Direction - The company is optimistic about its prospects for 2021, particularly in the ag sector, and plans to capitalize on improving margins in its ethanol and plant nutrient businesses [20][21] - The focus remains on managing risks while taking advantage of market opportunities, particularly in grain merchandising and ethanol production [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the recovery in gasoline demand and the potential for continued strength in ethanol margins [20] - The outlook for the plant nutrient business is positive, with expectations of strong performance continuing through the spring fertilizer application season [21] - Management highlighted the importance of monitoring planting progress and growing conditions as key factors influencing future performance [19][55] Other Important Information - The company generated cash flow from operations before changes in working capital of $89 million during the quarter, a significant increase from $12 million in Q1 2020 [11] - Total long-term debt was reduced by $35 million since year-end, with a focus on further debt repayments in 2021 [12] Q&A Session Summary Question: Ethanol recovery outlook - Management expects a slow build in ethanol demand recovery, influenced by market conditions and driving demand [24][25] Question: Corn oil impact on ethanol margins - A $0.10 increase in corn oil prices adds approximately $13 million to the bottom line, indicating significant sensitivity [26][27] Question: Sustainability of plant nutrient business - Management believes the strong performance in the plant nutrient business is sustainable due to robust demand and improved farmer income [32][34] Question: Rail business lease rates improvement - Lease rates are expected to improve slowly, with a recovery dependent on broader economic conditions [56] Question: Crop demand and supply setup - Management highlighted tight crop conditions and strong farmer selling, with expectations for a solid planting season [52][73]

The Andersons, Inc. (NASDAQ:ANDE) Q4 2020 Earnings Conference Call February 17, 2021 11:00 AM ET Company Participants John Kraus - Director of IR Pat Bowe - President, CEO & Director Brian Valentine - Executive VP & CFO Conference Call Participants Ben Bienvenu - Stephens Inc Ken Zaslow - Bank of Montreal Eric Larson - Seaport Global Ben Klieve - National Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to The Andersons 2020 Fourth Quarter Earnings Conference Call. [Operator ...

Table of Contents Securities registered pursuant to Section 12(b) of the Act: Title of each class: Trading Symbol Name of each exchange on which registered: Common stock, $0.00 par value, $0.01 stated value ANDE The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended 09/30/2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

The Andersons, Inc. (NASDAQ:ANDE) Q3 2020 Earnings Conference Call November 4, 2020 11:00 AM ET Company Participants John Kraus - Director of IR Pat Bowe - President & CEO Brian Valentine - EVP & CFO Conference Call Participants Ken Zaslow - Bank of Montreal Ben Bienvenu - Stephens Eric Larson - Seaport Global Ben Klieve - National Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to The Andersons' Third Quarter 2020 Earnings Conference Call. At this time, all participants are ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended 06/30/2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 000-20557 THE ANDERSONS, INC. (Exact name of the registrant as specified in its charter) (State of incorporation or organization) ...

Table of Contents Title of each class: Trading Symbol Name of each exchange on which registered: Common stock, $0.00 par value, $0.01 stated value ANDE The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition peri ...

The Andersons, Inc. (NASDAQ:ANDE) Q1 2020 Earnings Conference Call May 7, 2020 11:00 AM ET Company Participants John Kraus - Director, IR Patrick E. Bowe - President and CEO Brian A. Valentine - SVP and CFO Conference Call Participants Kenneth Zaslow - BMO Capital Markets Ben Bienvenu - Stephens, Inc Operator Good morning, ladies and gentlemen and welcome to the 2020 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer ...