Andersons, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: ANDE · Form: 10-Q · Filed: May 8, 2024 · CIK: 821026
Sentiment: neutral
Topics: 10-Q, Andersons Inc, ANDE, Financial Report, Q1 2024
TL;DR
<b>Andersons, Inc. (ANDE) filed its Q1 2024 10-Q report on May 8, 2024.</b>
AI Summary
Andersons, Inc. (ANDE) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. The Andersons, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 1947 Briarfield Boulevard, Maumee, OH 43537. The filing was made as of May 8, 2024. The company's Standard Industrial Classification code is 5150 (Wholesale-Farm Product Raw Materials).
Why It Matters
For investors and stakeholders tracking Andersons, Inc., this filing contains several important signals. This 10-Q filing provides a quarterly update on the company's financial performance and position, crucial for investors to assess recent operational results and trends. Understanding the details within this report allows stakeholders to evaluate the company's financial health, strategic direction, and potential risks in the farm product raw materials wholesale sector.
Risk Assessment
Risk Level: low — Andersons, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures indicated in the header information.
Analyst Insight
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.
Key Numbers
- 2024-03-31 — Report Period End Date (Conformed period of report)
- 2024-05-08 — Filing Date (Filed as of date)
- 2024-01-01 — Quarter Start Date (First quarter of fiscal year 2024 start date)
- 5150 — SIC Code (Standard Industrial Classification)
Key Players & Entities
- Andersons, Inc. (company) — Filer name
- Maumee, OH (location) — Business and mail address city and state
- 1947 Briarfield Boulevard (address) — Business and mail address street
- 43537 (zip_code) — Business and mail address zip
- 0000821026-24-000141 (filing_id) — Accession number
FAQ
When did Andersons, Inc. file this 10-Q?
Andersons, Inc. filed this Quarterly Report (10-Q) with the SEC on May 8, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Andersons, Inc. (ANDE).
Where can I read the original 10-Q filing from Andersons, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Andersons, Inc..
What are the key takeaways from Andersons, Inc.'s 10-Q?
Andersons, Inc. filed this 10-Q on May 8, 2024. Key takeaways: The Andersons, Inc. filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. The company's principal business address is 1947 Briarfield Boulevard, Maumee, OH 43537..
Is Andersons, Inc. a risky investment based on this filing?
Based on this 10-Q, Andersons, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures indicated in the header information.
What should investors do after reading Andersons, Inc.'s 10-Q?
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook. The overall sentiment from this filing is neutral.
How does Andersons, Inc. compare to its industry peers?
The Andersons, Inc. operates in the wholesale of farm product raw materials sector, a critical part of the agricultural supply chain.
Are there regulatory concerns for Andersons, Inc.?
As a publicly traded company, Andersons, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency for investors.
Industry Context
The Andersons, Inc. operates in the wholesale of farm product raw materials sector, a critical part of the agricultural supply chain.
Regulatory Implications
As a publicly traded company, Andersons, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency for investors.
What Investors Should Do
- Analyze the revenue and net income figures for the quarter ended March 31, 2024.
- Examine the balance sheet for changes in assets, liabilities, and equity compared to previous periods.
- Read the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for detailed commentary on performance.
Key Dates
- 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q filing.
- 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Year-Over-Year Comparison
This is the initial header information for the 10-Q filing for the period ending March 31, 2024. Specific comparative data from the previous filing is not available in this header.
Filing Stats: 4,621 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-05-08 12:18:45
Key Financial Figures
- $0.00 — nge on which registered: Common stock, $0.00 par value, $0.01 stated value ANDE The
- $0.01 — stered: Common stock, $0.00 par value, $0.01 stated value ANDE The NASDAQ Stock Mark
Filing Documents
- ande-20240331.htm (10-Q) — 1236KB
- exhibit101-psuawardagreeme.htm (EX-10.1) — 56KB
- exhibit311q12024.htm (EX-31.1) — 15KB
- exhibit312q12024.htm (EX-31.2) — 16KB
- exhibit321q12024.htm (EX-32.1) — 6KB
- ande-20240331_g1.jpg (GRAPHIC) — 118KB
- 0000821026-24-000141.txt ( ) — 7417KB
- ande-20240331.xsd (EX-101.SCH) — 44KB
- ande-20240331_cal.xml (EX-101.CAL) — 74KB
- ande-20240331_def.xml (EX-101.DEF) — 178KB
- ande-20240331_lab.xml (EX-101.LAB) — 537KB
- ande-20240331_pre.xml (EX-101.PRE) — 367KB
- ande-20240331_htm.xml (XML) — 1358KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations – Three months ended March 3 1 , 202 4 and 20 23 1 Condensed Consolidated Statements of Comprehensive Income (Loss) – Three months ended March 31, 2024 and 2023 2 Condensed Consolidated Balance Sheets – March 3 1 , 202 4 , December 31, 202 3 and March 31 , 20 23 3 Condensed Consolidated Statements of Cash Flows – Three months ended March 31 , 202 4 and 20 23 4 Condensed Consolidated Statements of Equity – Three months ended March 3 1 , 202 4 and 20 23 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 27
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 28
Risk Factors
Item 1A. Risk Factors 28
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28
Other Information
Item 5. Other Information 28
Exhibits
Item 6. Exhibits 29 Table of Contents
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements The Andersons, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data) Three months ended March 31, 2024 2023 Sales and merchandising revenues $ 2,718,217 $ 3,881,238 Cost of sales and merchandising revenues 2,589,897 3,733,227 Gross profit 128,320 148,011 Operating, administrative and general expenses 119,358 117,235 Asset impairment — 87,156 Interest expense, net 6,522 16,625 Other income, net 11,528 8,004 Income (loss) before income taxes 13,968 ( 65,001 ) Income tax provision (benefit) 1,303 ( 5,884 ) Net income (loss) 12,665 ( 59,117 ) Net income (loss) attributable to noncontrolling interests 7,084 ( 44,367 ) Net income (loss) attributable to The Andersons, Inc. $ 5,581 $ ( 14,750 ) Average number of shares outstanding - basic 33,932 33,622 Average number of share outstanding - diluted 34,243 33,622 Earnings (loss) per share attributable to The Andersons, Inc. common shareholders: Basic earnings (loss) per share attributable to The Andersons, Inc. common shareholders $ 0.16 $ ( 0.44 ) Diluted earnings (loss) per share attributable to The Andersons, Inc. common shareholders $ 0.16 $ ( 0.44 ) See Notes to Condensed Consolidated Financial Statements The Andersons, Inc. | Q1 2024 Form 10-Q | 1 Table of Contents The Andersons, Inc. Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (In thousands) Three months ended March 31, 2024 2023 Net income (loss) $ 12,665 $ ( 59,117 ) Other comprehensive income (loss), net of tax: Change in unrecognized actuarial loss and prior service cost ( 175 ) ( 188 ) Foreign currency translation adjustments ( 2,918 ) 767 Cash flow hedge activity 3,639 ( 4,796 ) Other comprehensive income (loss) 546 ( 4,217 ) Comprehensive income (loss) 13,211 ( 63,334 ) Comprehensive income (loss) attributable to the noncontrolling interests 7,084 ( 44,367 ) Comprehensive income (loss) attributable to T