The Andersons (ANDE) Misses Q4 EPS by 27c

The Andersons (NASDAQ: ANDE) reported Q4 EPS of $0.36, $0.27 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $1.11 million versus the consensus estimate of $1.23 billion.

"While we are disappointed with 2016's overall results, we took several steps throughout the year, and especially during the fourth quarter, to improve future earnings opportunities. We addressed underperforming assets in our portfolio by selling underperforming Grain Group locations, closing a cob processing facility to optimize our supply chain and manufacturing footprint, and recently announcing the closure of our Retail Group," said CEO Pat Bowe. "Moreover, we have already exceeded our initial cost reduction target and identified more than $10 million in run-rate cost savings and other performance improvement opportunities earlier than previously announced. We have implemented many of these reductions and continue to aggressively pursue other opportunities to further streamline our business operations."

Bowe went on to say, "We are pleased with the results turned in by our Rail and Ethanol groups. Our Grain Group is showing signs of rebounding after an improved harvest in the Eastern Corn Belt. With fertilizer prices stabilizing, we have begun to see signs of recovery as farmers get positioned for spring application and planting. We remain confident in our ability to grow our business and deliver improved results in 2017."

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

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