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Andersons profit misses consensus by 18.3% in Q2

The Andersons Inc. said its normalized net income for the second quarter came to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS decreased 55.4% year over year from $1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.4 million, a decline of 55.5% from $30.2 million in the year-earlier period.

The normalized profit margin fell to 1.3% from 2.5% in the year-earlier period.

Total revenue declined 10.4% on an annual basis to $1.06 billion from $1.19 billion, and total operating expenses decreased 10.4% year over year to $1.04 billion from $1.16 billion.

Reported net income declined 53.3% on an annual basis to $14.4 million, or 51 cents per share, from $30.9 million, or $1.09 per share.