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The Andersons Reports Lower Quarterly Profits
USAgNet - 11/08/2017

The Andersons, Inc. announces financial results for the third quarter ended September 30, 2017. The company reported third quarter 2017 net income attributable to The Andersons of $2.5 million, or $0.09 per diluted share, on revenues of $837 million. Those results compared to 2016 third quarter net income of $1.7 million, or $0.06 per diluted share, on revenues of $860 million.

"We performed reasonably well in the third quarter when considering that we continue to face some difficult market conditions, and we incurred some unusual expenses and sold two former retail properties," said President and CEO Pat Bowe. "The Grain Group again recorded better year-over-year results driven by good margins on corn and soybean sales and strong space margins for wheat. On a year-to-date basis, our Grain earnings have improved by more than $33 million."

Bowe continued, "Ethanol margins were lower year-over-year for the quarter in spite of strong U.S. exports. Current margins are disappointing. Forward curve margins into the first quarter of 2018 are below last year's levels as well."

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