The Andersons (ANDE) Reports Q3 EPS of $0.09

The Andersons (NASDAQ: ANDE) reported Q3 EPS of $0.09, versus $0.06 reported last year.

"We performed reasonably well in the third quarter when considering that we continue to face some difficult market conditions, and we incurred some unusual expenses and sold two former retail properties," said President and CEO Pat Bowe. "The Grain Group again recorded better year-over-year results driven by good margins on corn and soybean sales and strong space margins for wheat. On a year-to-date basis, our Grain earnings have improved by more than $33 million."

Bowe continued, "Ethanol margins were lower year-over-year for the quarter in spite of strong U.S. exports. Current margins are disappointing. Forward curve margins into the first quarter of 2018 are below last year\'s levels as well."

"The Plant Nutrient Group\'s margins continued to be compressed by an oversupply of nutrients and low farm income, even as year-over-year volumes were somewhat improved. The Rail Group\'s base leasing income and utilization continued their improvement from the second quarter, and the group also recorded better income from selling and scrapping cars," added Bowe.

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

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