MAUMEE, Ohio, Aug. 6, 2024 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces financial results for the second quarter ended June 30, 2024.Second Quarter Highlights:Company reported net income attributable to The Andersons of $36 million, or $1.05 per diluted share and adjusted net income of $39 million, or $1.15 per diluted shareAdjusted EBITDA was $98 million for the quarterRenewables reported pretax income of $39 million and adjusted pretax income attributable to The Andersons of $23 million on ...

MAUMEE, Ohio, July 16, 2024 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) will release its financial results for the second quarter 2024 after 4 p.m. Eastern Time on Tuesday, August 6, 2024. The company will host a webcast on Wednesday, August 7, 2024, at 11 a.m. Eastern Time to discuss the results and provide a company update.To listen over the phone, please dial 888-317-6003 (U.S. toll-free) or 412-317-6061 (international toll) and use elite entry number: 2989381. To watch the webcast, go to https:// ...

Group 1 - The Andersons, Inc. announced a third quarter 2024 cash dividend of $0.19 per share, payable on July 22, 2024, to shareholders of record as of July 1, 2024 [1] - This marks the 111th consecutive quarterly cash dividend since the company was listed on Nasdaq in February 1996 [1] Group 2 - The Andersons, Inc. has been recognized in 2024 by Forbes as one of America's Most Successful Small Companies and by Newsweek as one of America's Most Responsible Companies [2] - The company operates in diversified sectors including commodity merchandising, renewables, and nutrient & industrial sectors, emphasizing its commitment to customer service, employee development, community support, and company value enhancement [2]

The Andersons (ANDE) has been on a downward spiral lately with significant selling pressure. After declining 6.7% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a st ...

MAUMEE, Ohio, June 6, 2024 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) and Skyland Grain, LLC have signed a non-binding letter of intent for The Andersons to purchase an ownership interest in Skyland, operating in South Central and Southwest Kansas, Northwest Oklahoma, Eastern Colorado, and Texas."Our two companies are aligned in our vision to serve our local producers and expanded customer base," says Pete Goetzmann, Skyland's chief executive officer. "This proposed transaction provides an opportuni ...

MAUMEE, Ohio, May 13, 2024 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces that it will present at the BMO Capital Markets Global Farm to Market Conference on Wednesday, May 15, 2024.Chief Operating Officer Bill Krueger and Executive Vice President and Chief Financial Officer Brian Valentine will speak at the conference at 8:45 a.m. Eastern Time. The Andersons presentation will be webcast live at https://app.webinar.net/aeJ5DyEDqw1. A recording will also be available for a short time at the sam ...

FIRST QUARTER EARNINGS CALL May 8, 2024 SAFE HARBOR AND NON-GAAP FINANCIAL MEASURES Certain information discussed today constitutes forward-looking statements. Actual results could differ materially from those presented in the forward-looking statements as a result of many factors including general economic, weather, and regulatory conditions, competition, geopolitical risk, and additional factors that are described in the company’s publicly-filed documents, including its ’34 Act filings and the prospectuse ...

The Andersons, Inc. (NASDAQ:ANDE) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET Company Participants Michael Hoelter - Vice President-Corporate Controller & Investor Relations Patrick Bowe - President & Chief Executive Officer Brian Valentine - Executive Vice President & Chief Financial Officer Bill Krueger - Chief Operating Officer Conference Call Participants Ben Bienvenu - Stephens, Inc. Benjamin Klieve - Lake Street Capital Markets Scott Fortune - Roth MKM Operator Good morning, ladies and ge ...

Industry Overview - The Zacks Agriculture - Products industry is expected to benefit from stable food demand driven by a growing global population, projected to reach 8.5 billion by 2030 and 9.7 billion by 2050, leading to a 50% increase in food demand [3] - The industry includes companies involved in storing, distributing, and farming agricultural products, as well as those providing hydroponic gardening solutions and innovative health products [2] Growth Drivers - Rising consumer awareness regarding food ingredients and a preference for healthier options are key factors driving industry expansion [1] - Innovative agricultural technologies, such as hydroponics and vertical farming, are anticipated to be significant growth catalysts due to their efficiency and sustainability [1][4] - The hydroponic equipment market is projected to exceed $16 billion by 2025, while the legal cannabis market in North America is expected to reach $57 billion by 2028 [4] Cost Management - Companies in the industry are facing rising costs related to labor, packaging, and distribution, but recent easing of feed prices is expected to help margins [5] - Efforts to improve supply chain issues and implement cost-reduction strategies are underway to sustain profitability [5] Market Performance - The Zacks Agriculture - Products industry has outperformed the Basic Materials sector but lagged behind the S&P 500 over the past 12 months, with an 11.8% increase compared to the S&P 500's 26.3% [8] - The industry currently has a trailing 12-month EV/EBITDA ratio of 4.50X, significantly lower than the S&P 500's 13.94X and the Basic Materials sector's 11.66X [9] Company Highlights - **CalMaine Foods (CALM)**: Focused on expanding operational capacity and acquiring assets to enhance its geographic footprint, with a recent acquisition expected to boost egg prices due to supply concerns. Shares have gained 18.5% in the past six months [11][12] - **West Fraser Timber Co. (WFG)**: Benefiting from strong demand in the home construction market, with shares up 5.6% in the past six months. The company is optimizing its portfolio and investing in modernization [13][14] - **The Andersons, Inc. (ANDE)**: Strong cash flow supports growth in grain and fertilizer sectors, with shares gaining 21.5% in the last six months. The company is focused on renewables and improving ethanol production efficiency [15][16] - **Hydrofarm (HYFM)**: Streamlining operations and expanding into non-cannabis applications, with shares up 9.4% in the last six months. The company is focused on improving margins through cost reductions [17][18]

Sales and Revenue Performance - Trade segment's sales and merchandising revenues decreased by $983.9 million, resulting in a gross profit decline of $38.9 million compared to the prior year[96]. - Renewables operating results increased by $53.9 million compared to the prior year, with gross profit rising by $10.8 million despite a $182.5 million decrease in sales and merchandising revenues[98]. - Nutrient & Industrial segment operating results increased by $8.6 million, with sales and merchandising revenues up by $3.4 million and gross profit increasing by $8.4 million due to margin improvements[100]. Agricultural Inventory and Production - Agricultural inventories on hand were 106.7 million bushels as of March 31, 2024, compared to 99.6 million bushels a year earlier[88]. - Ethanol volumes shipped were 185,826 thousand gallons for the three months ended March 31, 2024, slightly down from 186,566 thousand gallons in the prior year[90]. - Total tons sold in the Ag Supply Chain segment increased from 170 thousand to 199 thousand year-over-year[92]. - The company expects strong demand for agricultural products if planting conditions improve, despite current delays due to wet and cold weather[91]. Financial Position and Cash Flow - Working capital as of March 31, 2024, was $1,130.6 million, an increase of $192.5 million from the prior year, primarily due to a decrease in current liabilities by $1,029.0 million[107][109]. - Cash and cash equivalents increased by $213.0 million to $283.9 million as of March 31, 2024, while accounts receivable decreased by $423.4 million[108]. - Net cash used in operating activities was $239.6 million for Q1 2024, a decrease from $333.5 million in Q1 2023, indicating improved cash flow management[111]. Investment and Financing Activities - The company expects to invest approximately $150 to $175 million in property, plant, and equipment in 2024, with about 50% allocated to maintaining current facilities[112]. - Financing activities used cash of $98.3 million in Q1 2024, compared to cash provided of $308.8 million in Q1 2023, primarily due to changes in short-term credit facility borrowings[113]. - The company paid dividends of $6.5 million in Q1 2024, slightly up from $6.3 million in the prior period, with a declared cash dividend of $0.190 per common share[113]. Compliance and Liabilities - The company is in compliance with all covenants related to its long-term borrowings as of March 31, 2024, with $1,845.6 million available for borrowing[114]. - Interest expense decreased by $6.2 million due to reduced short-term borrowings and better management of working capital[97].