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National & World Ag News Headlines |
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The Andersons Reports Best Second Quarter Since 2014
USAgNet - 08/04/2021
The Andersons, Inc. announced financial results for the second quarter ended June 30, 2021, with net income reaching $43.5 million, compared to $30.4 million in the second quarter of 2020.
"I'm very pleased that each of our four businesses delivered outstanding, year-over-year improvement with good execution in volatile markets," said President and CEO Pat Bowe. "I'm proud of our team; they anticipated market opportunities and executed well.
These market conditions play into our strengths of commodity trading, logistics, and position management. We expect that North American demand will remain strong and currently anticipate large harvests in our key draw areas this fall which should drive strong
performance into 2022."
The company reported net income attributable to The Andersons of $43.5 million, or $1.30 per diluted share, and adjusted net income of $43.7 million, or $1.31 per diluted share. On an adjusted basis, this was our best second quarter since 2014.
Ethanol reported pretax income attributable to The Andersons of $23.5 million on improved co-product margins and strong trading results.
Rail reported pretax income of $3.1 million on end-of-life railcar sales.
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