The Andersons, Inc. (NASDAQ:ANDE) Q2 2022 Earnings Conference Call August 3, 2022 11:00 AM ET Company Participants Mike Hoelter - VP, Corporate Controller & IR Pat Bowe - President & CEO Brian Valentine - EVP & CFO Conference Call Participants Ken Zaslow - BMO Ben Klieve - Lake Street Capital Markets Eric Larson - Seaport Research Partners Operator Good morning, and welcome to The Andersons 2022 Second Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] ...

The Andersons, Inc. (NASDAQ:ANDE) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET Company Participants Mike Hoelter - VP, Corporate Controller & IR Pat Bowe - President & CEO Brian Valentine - EVP & CFO Conference Call Participants Ben Bienvenu - Stephens Ken Zaslow - Bank of Montreal Ben Klieve - Lake Street Capital Markets Eric Larson - Seaport Research Partners Operator Good morning, ladies and gentlemen, and welcome to The Andersons 2022 First Quarter Earnings Conference Call. My name is Matthe ...

The Andersons, Inc. (NASDAQ:ANDE) Q4 2021 Earnings Conference Call February 16, 2022 11:00 AM ET Company Participants Michael Hoelter - IR Patrick Bowe - CEO Brian Valentine - CFO Conference Call Participants Ben Bienvenu - Stephens Kenneth Zaslow - BMO Capital Markets Eric Larson - Seaport Global Ryan Meyers - Lake Street Capital Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate ...

The Andersons, Inc. (NASDAQ:ANDE) Q3 2021 Earnings Conference Call November 3, 2021 11:00 AM ET Company Participants Michael Hoelter - IR Patrick Bowe - CEO Brian Valentine - CFO Conference Call Participants Kenneth Zaslow - BMO Capital Markets Benjamin Bienvenu - Stephens Inc. Eric Larson - Seaport Global Operator Good day, ladies and gentlemen, and welcome to The Andersons, 2021 Third Quarter Earnings Conference Call. At this time, all participant lines are in a listen-only mode. Later, we will conduct a ...

Financial Performance Highlights - Sales and merchandising revenues increased significantly to $32737 million in Q2 2021, compared to $18902 million in Q2 2020, a rise of $13835 million[11] - Gross profit increased to $1740 million in Q2 2021, from $1063 million in Q2 2020, an increase of $677 million[11] - Income before income taxes attributable to The Andersons, Inc increased to $541 million in Q2 2021, compared to $182 million in Q2 2020, a growth of $359 million[11] - Adjusted EBITDA increased to $1181 million in Q2 2021, from $700 million in Q2 2020, an increase of $481 million[11] - Diluted earnings per share (EPS) increased to $130 in Q2 2021, from $092 in Q2 2020, an increase of $038[11] Segment Performance - Trade segment revenues increased to $22979 million in Q2 2021, compared to $13512 million in Q2 2020, a rise of $9467 million[18] - Ethanol segment revenues increased to $6165 million in Q2 2021, compared to $2237 million in Q2 2020, a rise of $3928 million[21] - Plant Nutrient segment revenues increased to $3214 million in Q2 2021, compared to $2798 million in Q2 2020, a rise of $416 million[24] - Rail segment revenues increased to $379 million in Q2 2021, compared to $354 million in Q2 2020, a rise of $25 million[27] Outlook - The company anticipates strong merchandising opportunities due to expected volatility, a large grain harvest, and high demand[29]

Financial Data and Key Metrics Changes - The company reported net income of $43.5 million or $1.30 per diluted share for Q2 2021, compared to $30.4 million or $0.92 per diluted share in Q2 2020, representing a significant year-over-year increase [8][9] - Adjusted EBITDA for Q2 2021 was $118 million, up from $70 million in Q2 2020, with trailing 12 months adjusted EBITDA exceeding $340 million [5][9] - Revenues for Q2 2021 were $3.3 billion, compared to $1.9 billion in Q2 2020, indicating strong growth [8] Business Segment Data and Key Metrics Changes - The Trade Group reported adjusted pre-tax income of $14.1 million in Q2 2021, up from $1.4 million in Q2 2020, with adjusted EBITDA nearly doubling to $32.7 million [12] - The Ethanol segment achieved pre-tax income of $23.5 million, a significant increase from $900,000 in Q2 2020, with EBITDA rising to $47.2 million from $10.3 million [13] - The Plant Nutrient business recorded pre-tax income of $24 million, up from $19.4 million in Q2 2020, with EBITDA increasing to $31.6 million [14] - The Rail business saw pre-tax earnings of $3.1 million, compared to $2.6 million in the same period last year, with EBITDA remaining stable at $15.2 million [15] Market Data and Key Metrics Changes - The company noted strong demand for U.S. crops, with expectations of high global demand continuing into 2022, supporting world grain trade and prices above historical averages [16] - Crop conditions in key draw areas are reported to be excellent, while some regions face dry conditions, impacting overall production [16][17] Company Strategy and Development Direction - The company remains focused on growth opportunities in sustainable agriculture, particularly in carbon markets and renewable diesel [54] - Management emphasized disciplined risk management and the pursuit of growth through potential mergers and acquisitions [54] - The company is optimistic about the performance of its Plant Nutrient business and expects solid fall demand due to tight supplies [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the agricultural portfolio, anticipating strong merchandising and elevation opportunities due to favorable crop conditions [16] - The company expects continued volatility in grain markets but believes experienced traders will capitalize on these conditions [22] - Management highlighted the importance of managing high corn prices and the potential impact on ethanol margins in the upcoming quarters [30][42] Other Important Information - The company generated strong cash flow from operations of $93.1 million in Q2 2021, significantly up from $61.8 million in Q2 2020 [10] - Long-term debt has been reduced by nearly $70 million since year-end, with a focus on further debt repayments [11] Q&A Session Summary Question: Outlook for Trade Business and Comparability to Last Year - Management noted strong opportunities in the Trade Group, with good crop conditions in key areas and potential for comparable or better performance in the second half of 2021 compared to 2020 [22][24] Question: Ethanol Shipment Approval Process - Management indicated that shipments to California will ramp up once the necessary approvals are received, emphasizing the importance of waiting for official approval before shipping [26][27] Question: Ethanol Market Outlook - Management expressed optimism about gasoline demand and the ethanol market, despite potential challenges from high corn prices and the impact of the delta variant on demand [30][42] Question: Crop Production and Trading Opportunities - Management highlighted the good crop conditions in their regions, which may create trading opportunities, while acknowledging challenges in other areas due to dryness [33][34] Question: Renewable Diesel Market Participation - Management discussed their involvement in the renewable diesel market, emphasizing partnerships and supply agreements with producers [39][40] Question: Cost Savings and Future Outlook - Management confirmed that cost savings initiatives have been successful, with a focus on maintaining discipline in cost management while pursuing growth opportunities [56]