Strong Revenue Growth and Increased EBITDA in The Andersons Q2 2024 Performance
The Andersons, Inc. [ANDE] reported a strong performance in the second quarter ended June 30, 2024, with a net profit of $175.4 million. Compared to the previous quarter, the profit showed a slight decrease, reflecting the company's financial results for Q2 2024.
The company, headquartered in Maumee, Ohio, reported to SEC in an 8-K filing $1.05 earnings per share in the quarter, compared to $1.61 in the previous quarter.
The Andersons, a key player in the agriculture sector, reported revenue of $2.8 billion in the recent period. This figure represents a 30.5% decrease compared to the previous quarter's revenue.
In comparison to the same quarter of the previous year, The Andersons experienced a substantial decline of 51.6% in revenue, indicating a challenging period year-over-year.
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Furthermore, the company's profit for the current quarter exhibited a decrease of 11.4% when compared to the same quarter of the previous year, demonstrating a slight decline in profitability over the year.
As of August 7, 2024 end of day trading.
Dollars in millions | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|
Income Statement |
| Revenue | $3,635.7 | $4,020.2 | $3,881.2 |
| Net Income | $30.5 | $82.7 | -$14.8 |
| Net Cash | $302.8 | -$19.0 | -$44.4 |
| Gross Margin | $157.7 | $221.9 | $148.0 |
| Profit as % of Revenues | 4.34 | 5.52 | 3.81 |
| Profit as % of Assets | 0.74 | 2.02 | -0.34 |
| Profit as % of Stockholder Equity | 2.11 | 5.75 | -1.10 |
| Return on Equity | 2.11 | 5.75 | -1.10 |
| Return on Assets | 0.85 | 2.32 | -0.36 |
| Turnover Ratio | 0.89 | 0.98 | 0.89 |
Balance Sheet |
| Total Assets | $3,588.1 | $3,570.0 | $4,102.0 |
| Total Liabilities | $2,139.0 | $2,131.6 | $2,755.6 |
Cash Flow Statement |
| Operating Cash Flow | $696.1 | $207.4 | -$333.5 |
| Investing Cash Flow | -$117.3 | -$71.7 | -$19.8 |
| Financing Cash Flow | -$275.8 | -$155.0 | $308.8 |
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