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The Andersons, Inc. (Nasdaq: ANDE) is a diversified company rooted in the agriculture sector. Founded by Harold Anderson and his family, the company's mission was to simplify the agricultural process for regional farmers, and it has since grown into a publicly traded entity with a wide array of business interests. The Andersons operates through three main segments: Trade, Renewables, and Nutrient & Industrial.
Trade Segment: This segment focuses on the merchandising and transportation of various agricultural commodities, including whole grains, grain products, feed ingredients, and domestic fuel products. It generates the majority of The Andersons' revenue, primarily from the United States but also from international markets such as Canada, Mexico, Egypt, and Switzerland.
Renewables Segment: This segment deals with ethanol production and renewable diesel feedstock merchandising. The Renewables segment has seen significant growth, reporting record pretax income in recent quarters due to strong operational performance and advantageous market conditions.
Nutrient & Industrial Segment: This segment focuses on the production and distribution of plant nutrients and industrial products. It has shown improvement in recent periods, driven by increased volumes and margins in its agricultural product lines.
Recent achievements include being named to Forbes' list of America's Best Small Companies for 2023 and Newsweek's list of America's Greatest Workplaces for Diversity 2023. The company continues to prioritize extraordinary service, integrity, and community support through its 3,000 employees.
The Andersons is also actively expanding its portfolio. They recently announced a non-binding letter of intent to purchase an ownership interest in Skyland Grain, LLC, which operates in Kansas, Oklahoma, Colorado, and Texas. This aligns with their strategy of better connecting North American agricultural supply to global markets.
Financially, The Andersons maintains a robust balance sheet, generating significant cash flows and keeping its long-term debt to EBITDA ratio well below its target of less than 2.5 times. The company has a strong capacity for growth, supported by disciplined financial management and strategic investments.
The Andersons, Inc. (Nasdaq: ANDE) will participate in a virtual fireside chat at the Morgan Stanley Global Chemicals, Agriculture, and Packaging Conference on November 10, 2021, at 12:30 p.m. EST. CEO Pat Bowe and CFO Brian Valentine will present during the event. The presentation can be accessed via a live webcast, with a recording available shortly after the event. Founded in 1947 in Maumee, Ohio, The Andersons operates in commodity merchandising, biofuels, and plant nutrients, emphasizing exceptional customer service and community support.
The Andersons, Inc. (Nasdaq: ANDE) reported a net income of $13.9 million, or $0.41 per diluted share, for Q3 ended September 30, 2021. Adjusted EBITDA rose 20% year-over-year to $56.3 million. The Trade segment achieved record earnings of $27.6 million driven by strong merchandising opportunities. Despite a pretax loss of $3.6 million in the Ethanol segment, co-product values remain strong. The company also completed the strategic sale of Rail leasing assets, significantly reducing debt by over $300 million. Cash flow from operations was robust at $55.6 million for the quarter.
The Andersons, Inc. (Nasdaq: ANDE) will disclose its third-quarter financial results on November 2, 2021, after 4 p.m. EDT. A subsequent webcast for discussing the results is scheduled for November 3, 2021, at 11 a.m. EDT. Participants can join the call by dialing 866-439-8514 or 678-509-7568 with the passcode 5175137. A replay of the webcast will be accessible on the Investors page of the company's website.
The Andersons, Inc. (Nasdaq: ANDE) announced the acquisition of Capstone Commodities, LLC, a provider of feed ingredients for dairies, feed mills, and exporters primarily in the southwestern United States. This strategic move aims to enhance The Andersons' feed ingredient portfolio and geographic reach. Eric Watts, vice president of The Andersons Trade and Processing, expressed enthusiasm about the acquisition, highlighting its alignment with the company's vision to be a leading North American ag supply chain company. Capstone will operate as a wholly owned subsidiary under its own name.
The Andersons, Inc. (Nasdaq: ANDE) has announced a new share repurchase program, authorizing up to $100 million for the buyback of its common stock. This initiative, approved by the Board of Directors, underscores the company's commitment to maximizing shareholder value while maintaining a flexible capital allocation strategy. The program will be conducted through open market transactions over a period of three years, depending on market conditions and stock price.
The Andersons, Inc. (Nasdaq: ANDE) declared a cash dividend of 17.5 cents ($0.175) per share for the fourth quarter of 2021. Shareholders of record as of October 1, 2021 will receive the dividend on October 22, 2021. This marks the company's 100th consecutive quarterly dividend since its Nasdaq listing in February 1996, underscoring its commitment to returning value to shareholders.
American Industrial Transport, Inc. (AITX) has acquired the railcar leasing business of The Andersons, Inc. (ANDE) for approximately $550 million in cash. This acquisition allows AITX to expand its leasing fleet to around 60,000 railcars, enhancing its ability to service diverse industries. AITX plans to hire most employees from the acquired business, aiming to provide a comprehensive railcar leasing platform. The Andersons stated that selling this segment will allow it to focus on its core agricultural business, thereby improving its balance sheet and enhancing shareholder returns.
The Andersons, Inc. (Nasdaq: ANDE) has sold its railcar leasing business to American Industrial Transport, Inc. for approximately $550 million in cash. This strategic move allows the company to focus on its core agricultural segments, enhancing financial flexibility and enabling further debt reduction. The Andersons plans to market its railcar repair business, which includes 29 facilities across the U.S. Proceeds from the sale will be used to pay down debt and support future growth investments while maintaining returns to shareholders.
The Andersons, Inc. (Nasdaq: ANDE) reported strong Q2 2021 financial results, with net income of $43.5 million, or $1.30 per diluted share, marking a significant year-over-year increase. Adjusted EBITDA reached record levels at $118.1 million, up $48.1 million from last year. Key segments contributing to this success included Trade, Ethanol, and Plant Nutrient, with pretax incomes of $14.1 million, $23.5 million, and $24.0 million respectively. The company also reduced its long-term debt by over $69 million and maintains solid liquidity, positioning itself favorably for future growth.
The Andersons, Inc. will publish its second-quarter financial results on August 3, 2021, after 4 p.m. EDT. A subsequent webcast to discuss these results will take place on August 4, 2021, at 11 a.m. EDT. Participants can join by phone or through a webcast link. Founded in 1947 and based in Maumee, Ohio, The Andersons operates in agriculture, commodity trading, ethanol, rail, and plant nutrient sectors. Investors can find more on the company’s website.
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