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.