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Andersons Q2 profit falls 27.9% YOY

Andersons Inc. said its normalized net income for the second quarter came to $1.06 per share, compared with the S&P Capital IQ consensus estimate of 100 cents per share.

EPS fell 28.2% year over year from $1.48.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $30.2 million, a decrease of 27.9% from $41.9 million in the prior-year period.

The normalized profit margin dropped to 2.5% from 3.2% in the year-earlier period.

Total revenue fell 7.9% year over year to $1.21 billion from $1.31 billion, and total operating expenses declined 6.5% year over year to $1.18 billion from $1.27 billion.

Reported net income decreased 29.9% on an annual basis to $30.9 million, or $1.09 per share, from $44.1 million, or $1.56 per share.