NASDAQ$ANDE
Andersons Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported record results, driven by strong performance in Renewables and Trade segments.
The Andersons, Inc. reported strong Q4 2023 results, with net income from continuing operations attributable to The Andersons of $51 million, or $1.49 per diluted share, and $55 million, or $1.59 per diluted share, on an adjusted basis. Renewables had an excellent quarter with record ethanol production and strong corn to ethanol yields. Trade also performed well due to strong elevation margins in core grain assets.
- Reported net income from continuing operations attributable to The Andersons of $51 million, or $1.49 per diluted share.
- Adjusted net income from continuing operations attributable to The Andersons was $55 million, or $1.59 per diluted share.
- EBITDA was $131 million for the quarter, and adjusted EBITDA was $135 million.
- Renewables reported record pretax income of $60 million.
Headline financials
Revenue & EPS history
Andersons · Revenue · Quarterly
$3.21B
Revenue by segment
Andersons · $868M total across 1 segment · Q3 2023
- Renewables$868M+6.5%100.0%
Forward guidance
The company acknowledges a shift in fundamentals of the commodity markets with increased global stocks. They are actively pursuing opportunities for growth in the Renewables space, including carbon reduction plans and increased renewable diesel feedstock merchandising.
Tailwinds
- Mix of North American storage and ethanol production assets positions the company well to benefit from market shifts.
- Good results from recent investments in ingredients supplied for pet and human consumption.
- Actively pursuing opportunities for growth in the Renewables space, including carbon reduction plans and increased renewable diesel feedstock merchandising.
- Robust pipeline of opportunities that include both investment in facilities and M&A.
- Strong balance sheet to support growth.
Headwinds
- Acknowledge a shift in fundamentals of the commodity markets with increased global stocks.
- Spot ethanol crush margins have softened into 2024.
- Co-product values are facing headwinds as weaker corn prices are expected to compress feed values.
- Domestic producers are hesitant to forward sell due to lower commodity prices.
- Volatility exists in key international shipping lanes which could provide ongoing merchandising opportunities.
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 2023
-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
| Quarter | Report date | Reaction (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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