Andersons Inc. said its first-quarter normalized net income came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.
EPS decreased 70.5% year over year from 39 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.3 million, a decrease of 69.9% from $11.0 million in the prior-year period.
The normalized profit margin declined to 0.4% from 1.1% in the year-earlier period.
Total revenue fell 5.3% year over year to $950.1 million from $1.00 billion, and total operating expenses declined 5.2% from the prior-year period to $945.4 million from $997.5 million.
Reported net income decreased 82.1% on an annual basis to $4.0 million, or 14 cents per share, from $22.6 million, or 80 cents per share.
