The Andersons (ANDE) Tops Q2 EPS by 7c

The Andersons (NASDAQ: ANDE) reported Q2 EPS of $0.93, ex-items, $0.07 better than the analyst estimate of $0.86. Revenue for the quarter came in at $911.4 million versus the consensus estimate of $979.61 million.

• Grain Group records much improved pretax income of $9.9 million, net of a $1.6 million impairment charge on a recently sold Tennessee facility, as market volatility provides better merchandising opportunities and affiliate results continue to improve.
• Ethanol Group earns $6.1 million of pretax income on strong execution and improved DDG prices.
• Plant Nutrient Group reports pretax income of $15.1 million on continued lower primary and specialty fertilizer margins, offset by strong performance by the lawn and contract manufacturing business.
• Rail Group earns $0.9 million of pretax income despite a $4.7 million impairment charge on railcars intended to be scrapped, as the leasing market continues to improve and the railcar repair business rebounds.

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

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