The Andersons Inc

The Andersons Inc. reported second-quarter net income of $57 million, or $1.65 per diluted share, up from $7.9 million a year earlier, driven by a record quarter in its renewable fuels segment. Adjusted net income reached $74 million, or $2.15 per share, versus $8.4 million in the prior-year period. The renewables segment posted record pretax income of $65 million, or $88 million on an adjusted basis, benefiting from $24 million in 45Z producer tax credits and the finalization of Renewable Volume Obligations. Agribusiness pretax income rose to $20 million from $17 million, while operating cash flow increased to $488 million from $299 million. However, cash and cash equivalents fell to $66.5 million from $351 million, and short-term debt climbed to $314 million from $104 million, leaving a thinner cushion. The company is advancing a debottlenecking project at its Clymers, Indiana ethanol plant and a new soybean meal export operation at the Port of Houston, expected online in the fourth quarter. Management guided to a full-year adjusted tax rate of 14% to 18%, assuming continued 45Z credits, and noted that drier conditions in western growing regions could weigh on grain-asset profits this fall.

Andersons reported second-quarter 2026 adjusted net income of $74 million, or $2.15 per diluted share, driven by record earnings in its Renewables segment. Adjusted EBITDA reached $140 million, more than double the $65 million recorded in the same period last year, while Renewables adjusted pretax income surged to $88 million on record ethanol production and higher margins. The company recorded $24 million in 45Z tax credits during the quarter and expects full-year credits of $90 million to $100 million. Agribusiness adjusted pretax income rose to $20 million from $17 million a year earlier, supported by improved fertilizer margins and operational efficiencies. Management reaffirmed its long-term run-rate EPS target of $7.00 per share by the end of 2028, noting trailing 12-month adjusted EPS already exceeds $6.00.

The Andersons, Inc. has declared a third quarter 2026 cash dividend of 20 cents per share. The dividend is payable on July 22, 2026, to shareholders of record as of July 1, 2026. This marks the company's 119th consecutive quarterly cash dividend since its Nasdaq listing in February 1996.

The Andersons, Inc. has appointed David R. Heppner to its board of directors, effective June 18, 2026. Heppner is chief strategy officer and senior vice president of business development at Marathon Petroleum Corporation, and also serves as senior vice president at MPLX GP LLC. He brings nearly four decades of experience in engineering, operations, and commercial leadership, having held roles of increasing responsibility at Marathon since 1988. Chairman Pat Bowe stated that Heppner's deep experience in strategy, operations, and business development aligns with the company's focus on disciplined growth and portfolio optimization.