The Andersons, Inc. (ANDE) announced its third‑quarter 2025 earnings on Wednesday, November 5, 2025. Net income attributable to the company fell to $20.1 million, a decline from $27.4 million in the same quarter last year, while diluted earnings per share dropped to $0.59 from $0.80. Adjusted earnings per share were $0.84, down from $0.72 year‑over‑year.
Segment results underscored the impact of market conditions. The Agribusiness segment generated a pretax income of $2.5 million, a sharp decline from $19.2 million in Q3 2024, driven by lower grain prices and reduced merchandising volumes. In contrast, the Renewables segment posted a pretax income of $46.3 million, down from $25.9 million, as higher natural gas costs and lower ethanol board crush compressed margins.
Management attributed the earnings decline to trade uncertainty and a surplus of grain that limited customer purchasing. The company noted that lower grain prices and weaker forward contracting in the western markets reduced gross profit in its grain assets, while the Renewables segment faced higher input costs and a tighter corn basis. Despite these headwinds, the company highlighted ongoing efforts to capture 45Z tax credits and improve carbon intensity at its ethanol plants.
For investors, the earnings announcement provides a clear view of the company’s current performance and the challenges it faces in both the Agribusiness and Renewables segments. The continued focus on tax‑credit opportunities and operational efficiencies suggests a strategic path forward, but the reported declines signal caution in the near term as the company navigates volatile commodity markets.
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