The Andersons (NASDAQ: ANDE) reported Q3 EPS of ($0.07), $0.21 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $685.58 million versus the consensus estimate of $809.67 million.

"The overriding driver of our third quarter results was the mark-to-market impact on our grain inventories that we believe will substantially rebound before year-end," said President and CEO Pat Bowe. "The Ethanol Group continued to perform well despite tough market conditions, and Plant Nutrient and Rail results were not much different than those of last year\'s third quarter."

"The current market represents an opportunity to purchase grain at historically low basis levels," Bowe said. "Against that backdrop, the group recorded better results from risk management services, its food business, and its affiliates, and especially Lansing Trade Group. As we announced earlier, we plan to complete the acquisition of Lansing in early 2019."

Bowe continued, "Ethanol margins were challenged year over year for the quarter despite continued strong U.S. exports, but the group benefitted from having hedged about half its production before the quarter began. Current margins remain weak, and the forward curve into the first quarter of 2019 is below last year's level as well."

"The Plant Nutrient Group\'s margins continued to be compressed, and year-over-year volumes were somewhat lower as some September shipments were delayed. The Rail Group\'s cars on lease and utilization continued their improvement from the second quarter, and the group also recorded better income from its repair business year over year," added Bowe.

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