The Andersons reports $8m Q2 net income, expands renewables business

The Andersons' renewables segment reported pretax income of US$17 million and pretax income attributable to the company of US$10 million in the second quarter. For the same period in 2024, the segment reported pretax income of US$39 million and pretax income attributable to the company of US$23 million.

The company said its ethanol plants continue to run efficiently, resulting in higher year-over-year yields and production. Lower board crush, higher eastern corn basis, and increased natural gas costs led to lower overall margins.

Although later than expected, an uptick in the ethanol board crush occurred in July and is expected to remain through the summer driving season. This expectation is bolstered by strong demand, including exports, and an expected reduction in corn costs post-harvest.