The Andersons, Inc. Reports Fourth Quarter and Full Year Results

Financial Performance Overview - The Andersons, Inc. reported a pretax income of $67.3 million for Q4 2024, down from$91.8 million in Q4 2023, but showed an increase in year-to-date pretax income to $200.8 million from$169.6 million [4] - Net income attributable to the company for Q4 2024 was $45.1 million, or$1.31 per diluted share, compared to $51.2 million, or$1.49 per diluted share in Q4 2023 [4][9] - Adjusted net income for Q4 2024 was $46.9 million, or$1.36 per diluted share, down from $54.6 million, or$1.59 per diluted share in Q4 2023 [4][28] Segment Performance - The Trade segment achieved a record pretax income of $54 million in Q4 2024, up from$44 million in Q4 2023, driven by solid operations and improved merchandising [7][10] - The Renewables segment reported a pretax income of $25 million in Q4 2024, down from$60 million in Q4 2023, primarily due to lower ethanol prices despite record production [11][12] - Nutrient & Industrial segment showed improvement with a pretax income of $3 million in Q4 2024, compared to$2.1 million in Q4 2023, attributed to better performance in manufactured products [15][16] Cash Flow and Debt Management - The company ended 2024 with a cash position exceeding $560 million, with operating cash flows of$269 million in Q4 2024, compared to $251 million in Q4 2023 [5][6] - The long-term debt to adjusted EBITDA ratio stood at 1.8 times, below the target of 2.5 times, indicating a strong balance sheet [5] Market Outlook - The company anticipates a significant increase in planted corn acres and strong ethanol exports, positioning itself well against market shifts [3] - There are ongoing efforts to enhance the carbon intensity of ethanol plants and explore expansion and acquisition opportunities in the Renewables sector [3]