The Andersons, Inc. reported mixed financial results for the first quarter ended March 31, 2025, reflecting a turbulent market environment. The company posted net income attributable to The Andersons of $0.3 million, or $0.01 per diluted share, compared to $5.6 million, or $0.16 per diluted share, in the same period last year.
Adjusted net income, which excludes certain items, was $4 million, or $0.12 per diluted share, down from $5.6 million, or $0.16 per diluted share, in Q1 2024. Adjusted EBITDA increased to $57.3 million from $51.2 million year-over-year.
The Renewables segment demonstrated strong performance, reporting pretax income of $25 million and pretax income attributable to The Andersons of $15 million. This success was driven by efficient ethanol plant operations, higher yields, and improved board crush margins.
However, the Agribusiness segment faced challenges, recording a pretax loss of $10 million and breakeven adjusted pretax income attributable to the company. Market uncertainties disrupted typical grain flows and led to just-in-time purchasing by commercial customers.
President and CEO Bill Krueger commented on the results, stating, "We had mixed results in a turbulent first quarter. The Renewables segment performed well and our ethanol plants had strong operating efficiency and financial results."
Looking ahead, Krueger expressed optimism about second-quarter opportunities in agronomy, citing expected increases in corn acreage. He also anticipates favorable conditions for storage and handling later in the year due to strong system-wide corn and wheat production.
The company continues to pursue growth opportunities, with longer lead-time capital projects in Agribusiness progressing well and expected to be completed by mid-2026. Renewables projects are focused on improving efficiency, co-product yields, and lowering the carbon intensity of ethanol plants.
Executive Vice President and CFO Brian Valentine highlighted the company's strong cash flow generation and modest debt levels. The Andersons anticipates increased spending on growth projects for previously announced long-term opportunities in 2025.
Despite the challenging start to the year, The Andersons remains confident in its asset and merchandising footprint, positioning itself to navigate market conditions and capitalize on emerging opportunities in the agricultural and renewable energy sectors.
