The Andersons Posts Best Q2 Results Since 2014
Noting that market conditions played into its strengths in commodity trading, logistics, and position management, The Andersons has posted its second quarter results (ending June 30) revealing its net income of $43.5 million for the quarter, compared to $30.4 million for its second quarter a year before.
Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $118.1 million for the quarter, an increase of $48.1 million year-on-year and the highest quarterly EBITDA for the company on record.
The company’s Plant Nutrient division reported pre-tax income of $24 million based on stronger margins, while Ethanol reported pre-tax income of $23.5 million on improved co-product margins and strong trading.
Likewise, Trade reported pre-tax income of $13.8 million and adjusted pre-tax income of $14.1 million on strong elevation margin and merchandising results.
With each of the company’s four businesses posting very positive year-on-year increases, The Andersons stated that it anticipates North American demand to remain strong, with large harvests forthcoming in its key draw areas which should drive equal performance into 2022.