- Andersons ( NASDAQ: ANDE ) shows Q2 revenue surge of 37.3% to $4.45B, beating consensus by $790M.
- Adjusted EBITDA was $46.6M, vs. adjusted EBITDA of $32.7M prior.
- The renewables segment reported pretax income attributable to the company of $45.9M vs. $23.5M prior.
- The Plant Nutrient segment posted pretax income of $38.3M vs. $24M prior.
- Generated $134.6M and $93.1M in cash from operations.
- Our businesses continue to generate strong operating cash flows and we remain disciplined in our approach to capital spending decisions. We are well below our goal of long-term debt to EBITDA of less than 2.5 times, ending the quarter at 1.5 times, and are well-positioned to fund strategic growth projects with appropriate returns." said Executive VP and CFO Brian Valentine.
- Non-GAAP EPS of $2.39 beats consensus by $1.36.
- Contributor comments: 'The Andersons is a major ethanol producer on top of exposure in other areas, providing investors with a buying opportunity after recent weakness. '
- Sell-side rating of Strong Buy for the stock with a 4.50 score an average price target of $51.25.
- Quant rating of Buy with 3.69 score with lowest factor grades given to profitability.
- Stock jumps 9% during pre-market
- Previously (Aug. 2): Andersons Non-GAAP EPS of $2.39 beats by $1.36, revenue of $4.45B beats by $790M
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Andersons scales 9% after Q2 top and bottom line beat