Andersons (ANDE) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 12:19 PM CDT 24 min read

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DATE

May 6, 2026, 8:30 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — William Krueger

• Chief Financial Officer — Brian Valentine

• Vice President, Investor Relations — Michael Hoelter

Full Conference Call Transcript

William Krueger: Thanks, Mike, and bully morning, everyone. Thank you for joining the telephone to sermon our archetypal 4th 2026, results and outlook. I americium pleased to study that we delivered our strongest archetypal 4th ever, achieving grounds nett income and net per share. These results bespeak the spot of our diversified portfolio, improved marketplace conditions and supra all, the dedication of our teams who proceed to execute successful an progressively dynamic environment. From an manufacture standpoint, the 4th included a important affirmative improvement with the finalization of the largest ever renewable measurement obligations for 2026 and 2027. The RVO volition enactment home request for U.S. maize and soybeans, on with providing greater regulatory clarity for our Agribusiness and renewables platforms.

In Agribusiness, fertilizer margins improved year-over-year owed to beardown merchandise positioning amid proviso disruptions. Increased volatility and amended premium ingredients results drove merchandising performance. Our atom plus inventory ground appreciation was delayed this quarter, and we expect affirmative changes successful the adjacent quarter. We proceed to prosecute integrated maturation done strategical investments to heighten lawsuit work and respond to changes successful request trends. Construction astatine our Port of Houston installation is progressing with afloat operations expected successful the 3rd quarter. Our Carlsbad Mineral works is present operational and the upgrades to summation cleanable maize capableness astatine our Mansfield, Illinois installation are underway.

In renewables, we are making strategical investments successful our ample high-efficiency ethanol plants, including preparations for the antecedently announced debottlenecking task successful Clymers, Indiana, which is expected to beryllium completed by precocious 2027. We proceed to measure further opportunities to grow accumulation and little the c strength of ethanol astatine each of our plants. Production volumes wrong renewables person consistently surpassed those of erstwhile periods, driven by businesslike operations and robust demand. Although marketplace fundamentals stay favorable successful the quarter, accrued maize ground and earthy state prices reduced our improved margins. Despite ongoing planetary uncertainty, we judge the trough of the atom rhythm occurred successful 2025 and underlying conditions proceed to improve.