The Andersons (ANDE) Misses Q2 EPS by 7c

The Andersons (NASDAQ: ANDE) reported Q2 EPS of $0.51, $0.07 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.24 billion.

"The first half of the year was challenging, in line with our expectations, due to the poor crop last fall in the Eastern Corn Belt," said CEO Pat Bowe. "While challenges in our Grain Group persisted, we did begin to see positive impacts from a good wheat harvest, and are starting to capture benefits from our productivity initiatives.

"We were encouraged to see good volumes of specialty products in our Plant Nutrient business," he continued. "However, margins were disappointing in the face of oversupply of basic nutrients and low grain prices. The industry is starting to see production curtailments in certain products which should help bring supply and demand more into balance."

For earnings history and earnings-related data on The Andersons (ANDE) click here.

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