#United States #Maumee #Agribusiness #Renewables #Andersons

The Andersons, Inc. Reports First Quarter Results

The Andersons, Inc. (Nasdaq: ANDE) has recently published its financial results for the first quarter, concluding on March 31, 2026. The company achieved remarkable milestones, notably a net income of $33 million or $0.97 per diluted share, alongside an adjusted net income of $38 million or $1.12 per diluted share. The adjusted EBITDA stood at an impressive $91 million.

In the renewables sector, the company reported a pretax income of $40 million, spurred by record production, strong merchandising efforts, and favorable biofuels policies. The agribusiness segment also demonstrated resilience, with a reported pretax income of $7 million, and adjusted pretax income attributable to The Andersons showing a significant increase to $18 million, fueled by resilient merchandising and improving conditions in the market.

Bill Krueger, President and CEO, credited the outstanding results to both the strong performance in the Renewables segment and enhancements in Agribusiness. "Our ethanol margins were solid, driven by increased demand and rising gasoline prices. The renewable feedstock division also had a strong quarter, as we witnessed improvements in value and volume following the finalization of the Required Volume Obligations (RVO). Our facilities set a quarterly production record, and we successfully qualified for a higher tier of 45Z tax credits,” Krueger stated.

He further highlighted, "In Agribusiness, market volatility returned, allowing us to secure solid results. Our premium ingredients division saw impressive growth, more than doubling prior year figures as we focused on meeting the needs of our key CPG customers. The fertilizer side also showed improvement as we strategically positioned our offers for the spring planting season."

On the capital front, executives are actively researching options to enhance growth and efficiency while considering potential acquisitions. The company plans to complete various capital expenditures throughout 2026, which include expanding soybean meal export capacity at Port Houston, refurbishing grain storage at the Toledo port assets, and implementing several cleaning projects for both corn and wheat. Noteworthy is a debottlenecking project at the Clymers, Indiana ethanol plant, expected to elevate the plant's annual production capacity to approximately 170 million gallons upon its completion.

The Agribusiness segment's performance was remarkably better than the previous year, showcasing a pretax income of $7 million and an adjusted pretax income of $18 million, compared to $10 million losses during the same period in 2025. The first quarter EBITDA for Agribusiness hit $49 million, showcasing a robust improvement from the $31 million recorded in 2025, thanks to the earnings resilience demonstrated by the diversified portfolio amidst market volatility.

The Renewables segment reported stellar earnings, with pretax income of $40 million compared to $25 million in the same quarter last year. This growth was largely attributed to efficient plant operations and record production levels despite pressures from higher corn basis and natural gas costs. Importantly, the first quarter results include $26 million from 45Z producer tax credits, with the company’s plants successfully qualifying for enhanced credits following recent regulatory updates effective in 2026.

The firm anticipates that ethanol demand trends will remain positive, fueled by increasing global blend rates, high gasoline prices, and planned maintenance within the industry, further augmented by supportive fundamentals surrounding renewable feedstocks.

Additionally, the company reported an effective tax rate of 14%, influenced by non-taxable 45Z income, with expectations for a full-year adjusted rate projected between 14% and 18%.

To discuss its recent performance and provide insights into the outlook for the remainder of 2026, The Andersons will host a webcast on May 6, 2026, at 8:30 a.m. ET. Stakeholders can listen in by calling in or accessing the webcast via the company’s website.

As The Andersons continues navigating dynamic market conditions, the company remains focused on ensuring sustained profitable growth while enhancing its operational efficiency and community contributions.