NASDAQ$ANDE

Andersons Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

The Andersons reported record fourth quarter earnings driven by strong performance across all business segments.

The Andersons, Inc. reported a strong fourth quarter with record earnings. Net income attributable to The Andersons was $32.8 million, or $0.95 per diluted share. Adjusted net income was $39.2 million, or $1.14 per diluted share. The company's performance was driven by strong results in its Trade, Renewables, and Plant Nutrient segments.

  • Reported net income attributable to The Andersons from continuing operations of $32.8 million, or $0.95 per diluted share.
  • Adjusted net income from continuing operations of $39.2 million, or $1.14 per diluted share.
  • Trade reported pretax income of $18.3 million and adjusted pretax income of $26.9 million.
  • Renewables reported pretax income attributable to the company of $26.5 million.

Headline financials

Total Revenue

$3.78B

Previous: $2.54B+48.7%
EPS (adj)

$1.14

Previous: $0.59+93.2%
Adjusted EBITDA

$131M

No prior period
Capital Expenditures

$23M

Previous: $17.7M+29.9%
Free Cash Flow

-$193M

Previous: -$288M+32.9%
Net Income

$32.8M

Previous: $14.6M+123.9%
Operating Income

$76.6M

Previous: $27.9M+174.7%
Gross Profit

$194M

Previous: $134M+45.1%
Cash & Equivalents

$216M

Previous: $29.1M+643.2%
Total Assets

$4.57B

Previous: $4.27B+7.0%
Stock-Based Comp

$4.31M

Previous: $2.44M+76.6%

Revenue & EPS history

Andersons · Revenue · Quarterly

$3.78B

Q4 2021+48.7%vs Q4 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Andersons · $767M total across 1 segment · Q4 2021

  • Renewables
    $767M

Forward guidance

The company expects continued strong performance as they move into 2022.

Tailwinds

  • Ag supply chain opportunities are expected to remain strong into 2022.
  • Continued demand and uncertainty about growing conditions in global grain production regions has resulted in continued high commodity prices post-harvest and can make U.S. grain production increasingly important.
  • Corn oil demand is expected to remain high and merchandising of third-party renewable feedstocks should remain strong.
  • Fertilizers will benefit from continuing limited supply and elevated fertilizer prices.
  • The company has a robust pipeline of growth projects that they are evaluating which are aligned with their strategy.

Headwinds

  • Spot ethanol crush margins have declined and are expected to be closer to historical averages and seasonally move with driving demand.
  • Manufactured products were negatively impacted by raw material and plant labor availability as well as wage inflation.
  • Economic conditions
  • Weather conditions
  • Regulatory conditions

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-1.6%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+0.6%

Avg return

30 days after

44%

30 / 68 earnings

Positive

+17.3%

Q4 2024

Best reaction

-25.7%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-14.2%-9.7%-8.2%
Q4 2025-3.6%-3.8%-0.9%
Q3 2025+4.6%+9.9%+7.8%
Q1 2025-10.1%+2.8%-0.8%
Q4 2024+17.3%+10.1%+3.8%
Q3 2024-4.0%+8.3%+3.9%
Q2 2024-0.3%-0.6%+3.7%
Q1 2024-9.0%-5.5%-10.6%
Q4 2023+3.7%-2.7%+4.0%
Q3 2023-13.5%-7.8%-2.5%
Q2 2023+2.2%+8.6%+5.2%
Q1 2023-10.9%-16.2%-12.0%
Q4 2022+13.7%+17.9%+3.5%
Q3 2022+3.6%+6.0%+5.1%
Q2 2022+14.1%+5.4%+3.3%
Q1 2022-25.7%-24.7%-25.0%
Q4 2021+2.8%+0.9%+16.2%
Q3 2021+0.8%+7.3%-2.1%
Q2 2021+1.1%+5.3%+14.7%
Q1 2021-1.9%+2.5%+9.2%
Q4 2020+2.2%-4.6%+6.4%
Q3 2020-16.7%-18.8%+3.3%
Q2 2020+11.7%+17.2%+23.2%
Q1 2020-15.7%-6.9%-9.3%
Q4 2019-11.8%-14.4%-29.6%
Q3 2019+10.6%+9.2%+24.3%
Q2 2019+3.1%+3.6%-9.3%
Q1 2019-10.6%-9.5%-16.0%
Q4 2018+8.1%+4.6%-0.5%
Q3 2018-11.1%-10.0%-13.2%
Q2 2018+14.6%+13.9%+14.6%
Q1 2018-5.3%-5.4%+0.9%
Q4 2017+15.0%+15.0%+13.3%
Q3 2017-6.7%-16.9%-14.1%
Q2 2017-0.7%-4.8%-7.0%
Q1 2017-9.0%-10.4%-1.6%
Q4 2016+5.8%+6.1%+4.0%
Q3 2016-4.1%-8.0%+8.1%
Q2 2016+1.1%+4.4%+6.7%
Q1 2016-11.3%
Q4 2015-14.3%
Q3 2015-8.5%
Q2 2015+7.5%
Q1 2015-2.8%
Q4 2014-10.3%
Q3 2014-18.3%
Q2 2014+6.9%
Q1 2014-15.1%
Q4 2013-7.9%
Q3 2013-0.3%
Q2 2013+3.7%
Q1 2013-3.5%
Q4 2012-0.8%
Q3 2012+4.6%
Q2 2012+0.6%
Q1 2012-2.8%
Q4 2011-5.5%
Q3 2011+7.6%
Q2 2011+4.3%
Q1 2011+1.5%
Q4 2010-1.4%
Q1 2010-1.4%
Q4 2008-1.4%
Q3 2010-1.8%
Q3 2009-1.8%
Q2 2009+2.9%
Q2 2010+2.9%
Q4 2009+2.9%

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