Andersons, Inc. Files Q2 2024 10-Q
Ticker: ANDE · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 821026
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Andersons Inc. 10-Q filed: Q2 2024 results out, compare vs Q2 2023. Check financials.
AI Summary
Andersons, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The filing details the company's operations and financial position, with specific figures for revenue, expenses, and net income for the second quarter and the first half of 2024 compared to the same periods in 2023. Key financial data and segment performance are presented.
Why It Matters
This filing provides investors and analysts with a detailed look at Andersons, Inc.'s financial health and operational performance during the second quarter of 2024, enabling informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-08-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Andersons, Inc. (company) — Filer of the 10-Q report.
- 20240630 (date) — End of the reporting period for the 10-Q.
- 20240807 (date) — Date the 10-Q was filed.
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 7, 2024.
What is the company's name and Central Index Key (CIK)?
The company's name is Andersons, Inc., and its Central Index Key is 0000821026.
What is the Standard Industrial Classification (SIC) code for Andersons, Inc.?
The SIC code for Andersons, Inc. is 5150, which corresponds to Wholesale-Farm Product Raw Materials.
What are the fiscal year-end dates mentioned in the filing?
The filing mentions the fiscal year end as December 31, with specific dates like 2023-12-31 and 2022-12-31 also appearing.
Filing Stats: 4,600 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-08-07 13:28:45
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-20240630.htm (10-Q) — 1445KB
- exhibit101secondamendedand.htm (EX-10.1) — 1108KB
- exhibit311q22024.htm (EX-31.1) — 15KB
- exhibit312q22024.htm (EX-31.2) — 16KB
- exhibit321q22024.htm (EX-32.1) — 6KB
- ande-20240630_g1.jpg (GRAPHIC) — 118KB
- 0000821026-24-000185.txt ( ) — 8974KB
- ande-20240630.xsd (EX-101.SCH) — 42KB
- ande-20240630_cal.xml (EX-101.CAL) — 71KB
- ande-20240630_def.xml (EX-101.DEF) — 178KB
- ande-20240630_lab.xml (EX-101.LAB) — 515KB
- ande-20240630_pre.xml (EX-101.PRE) — 362KB
- ande-20240630_htm.xml (XML) — 1467KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations – Three and Si x months ended June 30 , 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Income – Three and Six months ended June 30, 2024 and 2023 2 Condensed Consolidated Balance Sheets – June 30 , 2024, December 31, 2023 and June 30 , 2023 3 Condensed Consolidated Statements of Cash Flows – Six months ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Equity – Three and Six months ended June 30 , 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7
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 28
Controls and Procedures
Item 4. Controls and Procedures 28
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 29
Risk Factors
Item 1A. Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
Other Information
Item 5. Other Information 29
Exhibits
Item 6. Exhibits 30 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 June 30, Six months ended June 30, 2024 2023 2024 2023 Sales and merchandising revenues $ 2,795,205 $ 4,020,183 $ 5,513,422 $ 7,901,421 Cost of sales and merchandising revenues 2,619,834 3,798,246 5,209,731 7,531,473 Gross profit 175,371 221,937 303,691 369,948 Operating, administrative and general expenses 116,614 116,007 235,972 233,242 Asset impairment — — — 87,156 Interest expense, net 6,611 13,953 13,133 30,578 Other income, net 5,200 12,441 16,728 20,445 Income before income taxes 57,346 104,418 71,314 39,417 Income tax provision 4,876 21,732 6,179 15,848 Net income 52,470 82,686 65,135 23,569 Net income (loss) attributable to noncontrolling interests 16,494 27,640 23,578 ( 16,727 ) Net income attributable to The Andersons, Inc. $ 35,976 $ 55,046 $ 41,557 $ 40,296 Average number of shares outstanding - basic 34,060 33,744 33,996 33,683 Average number of share outstanding - diluted 34,339 34,165 34,302 34,193 Earnings per share attributable to The Andersons, Inc. common shareholders: Basic earnings per share attributable to The Andersons, Inc. common shareholders $ 1.06 $ 1.63 $ 1.22 $ 1.20 Diluted earnings per share attributable to The Andersons, Inc. common shareholders $ 1.05 $ 1.61 $ 1.21 $ 1.18 See Notes to Condensed Consolidated Financial Statements The Andersons, Inc. | Q2 2024 Form 10-Q | 1 Table of Contents The Andersons, Inc. Condensed Consolidated Statements of Comprehensive Income (Unaudited) (In thousands) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Net income $ 52,470 $ 82,686 $ 65,135 $ 23,569 Other comprehensive income (loss), net of tax: Change in unrecognized actuarial loss and prior service cost ( 175 ) ( 189 ) ( 350 ) ( 377 ) Foreign currency translation adjustments ( 1,965 ) 2,669 ( 4,883 ) 3,436 Cash