$ANDE

Andersons, Inc.

CIK:0000821026|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales and merchandising revenues	$ 3,097,660	$ 3,135,869	$ 5,724,926	$ 5,794,967
Cost of sales and merchandising revenues	2,873,930	2,977,453	5,340,612	5,483,679
Gross profit	223,730	158,416	384,314	311,288
Operating, administrative and general expenses	173,774	134,589	318,438	280,343
Interest expense, net	15,642	11,495	32,480	24,591
Other income, net	33,023	12,503	67,833	21,694
Income before income taxes	67,337	24,835	101,229	28,048
Income tax provision	13,389	8,028	17,949	5,910
Net income	53,948	16,807	83,280	22,138
Net (loss) income attributable to noncontrolling interests	(2,615)	8,950	(6,471)	13,997
Net income attributable to The Andersons, Inc.	$ 56,563	$ 7,857	$ 89,751	$ 8,141
Average number of shares outstanding - basic (in shares)	34,058	34,199	34,007	34,149
Average number of share outstanding - diluted (in shares)	34,272	34,298	34,218	34,298
Earnings per share attributable to The Andersons, Inc. common shareholders:
Basic earnings (loss) per share attributable to The Andersons, Inc. common shareholders (usd per share)	$ 1.66	$ 0.23	$ 2.64	$ 0.24
Diluted earnings (loss) per share attributable to The Andersons, Inc. common shareholders (usd per share)	$ 1.65	$ 0.23	$ 2.62	$ 0.24

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 83,280	$ 22,138
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	68,746	67,411
Other	29,068	10,311
Changes in operating assets and liabilities:
Accounts receivable	(132,491)	(23,396)
Inventories	402,049	521,356
Commodity derivatives	35,996	19,857
Other current and non-current assets	(14,683)	(31,730)
Payables and other current and non-current liabilities	(377,718)	(636,646)
Net cash provided by (used in) operating activities	94,247	(50,699)
Investing Activities
Purchases of property, plant and equipment and capitalized software	(127,284)	(95,376)
Insurance proceeds	1,108	13,989
Other	2,919	5,680
Net cash used in investing activities	(123,257)	(75,707)
Financing Activities
Net proceeds (payments) under short-term lines of credit	65,443	(64,875)
Proceeds from issuance of long-term debt	86,250	14,700
Payments of long-term debt	(122,982)	(16,645)
Value of shares withheld for taxes	(7,006)	(3,931)
Dividends paid	(13,640)	(13,367)
Payments of debt issuance costs	(5,685)	(159)
Common stock repurchased	(4,607)	(1,184)
Distributions to noncontrolling interests	0	(1,547)
Net cash used in financing activities	(2,227)	(87,008)
Effect of exchange rates on cash and cash equivalents	(497)	2,613
Decrease in cash and cash equivalents	(31,734)	(210,801)
Cash and cash equivalents at beginning of period	98,283	561,771
Cash and cash equivalents at end of period	$ 66,549	$ 350,970

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 66,549	$ 98,283	$ 350,970
Accounts receivable, net	755,217	652,472	783,892
Inventories	961,002	1,365,121	771,868
Commodity derivative assets – current	152,333	135,466	147,937
Other current assets	146,684	125,067	120,780
Total current assets	2,081,785	2,376,409	2,175,447
Property, plant and equipment, net	979,618	939,500	883,985
Other assets, net	412,878	396,923	387,059
Total assets	3,474,281	3,712,832	3,446,491
Current liabilities:
Short-term debt	314,366	249,420	104,467
Trade and other payables	603,591	918,691	572,232
Customer prepayments and deferred revenue	87,206	195,331	73,545
Commodity derivative liabilities – current	103,710	51,153	79,253
Current maturities of long-term debt	22,918	63,375	64,210
Accrued expenses and other current liabilities	247,296	208,427	186,902
Total current liabilities	1,379,087	1,686,397	1,080,609
Long-term debt, less current maturities	563,481	560,016	578,464
Other long-term liabilities	174,127	176,184	176,908
Total liabilities	2,116,695	2,422,597	1,835,981
Commitments and contingencies
Shareholders’ equity:
Common shares, without par value(a)	144	144	144
Additional paid-in-capital	204,954	208,425	384,654
Treasury shares, at cost(b)	(11,290)	(14,080)	0
Accumulated other comprehensive income	10,153	11,337	14,334
Retained earnings	1,114,743	1,038,953	965,277
Total shareholders’ equity of The Andersons, Inc.	1,318,704	1,244,779	1,364,409
Noncontrolling interests	38,882	45,456	246,101
Total equity	1,357,586	1,290,235	1,610,510
Total liabilities and equity	$ 3,474,281	$ 3,712,832	$ 3,446,491