The Andersons Breaks Earnings Record in Q4 2021
The Andersons revealed that both the company and its plant nutrient business saw record results in Q4 2021, ending December 31, 2021.
Growth in new markets, such as renewable diesel and supply chain extensions in connection to the company’s new Swiss trading office, along with a good 2021 harvest - particularly in the eastern grain belt - were some of the drivers for the company’s success.
President and CEO Pat Bowe noted that each of the company’s three business segments reached record or near-record performance by focusing on risk management, effective hedging, strong operational performance, and good returns from co-products such as distillers’ corn oil. The company also continued to diversify revenues into new product lines, such as renaming its ethanol segment “renewables” to reflect its broader scope.
The Andersons reported net income from continuing operations of $32.8 million and adjusted net income from continuing operations of $39.2 million. Renewables posted pretax income of $26.5 million - the best Q4 since 2013 on strong margins, and the plant nutrient segment posted a record Q4 with pretax income of $15.9 million - boosted by strong fertilizer prices, farm income, and good support from its suppliers.