Revenue: As of FY2025, the actual value is USD 11.01 B, missing the estimate of USD 11.75 B.EPS: As of FY2025, the actual value is USD 2.79.EBIT: As of FY2025, the actual value is USD 188.63 M.<h4>Overall Company Performance</h4><ul><li>Sales and Merchandising Revenues: Total sales and merchandising revenues decreased to $11,008,928 thousand in 2025 from $11,257,548 thousand in 2024.</li><li>Cost of Sales and Merchandising Revenues: Total cost of sales and merchandising revenues decreased to $10,295,277 thousand in 2025 from $10,563,622 thousand in 2024.</li><li>Gross Profit: Gross profit increased to $713,651 thousand in 2025 from $693,926 thousand in 2024.</li><li>Operating, Administrative and General Expenses: These expenses rose to $585,234 thousand in 2025 from $503,620 thousand in 2024.</li><li>Asset Impairment: An asset impairment charge of $18,129 thousand was recorded in 2025, compared to no charge in 2024.</li><li>Interest Expense, Net: Interest expense, net, increased to $47,159 thousand in 2025 from $31,760 thousand in 2024.</li><li>Other Income, Net: Other income, net, significantly increased to $78,340 thousand in 2025 from $42,211 thousand in 2024.</li><li>Income Before Income Taxes: Income before income taxes was $141,469 thousand in 2025, down from $200,757 thousand in 2024.</li><li>Net Income Attributable to The Andersons, Inc.: Net income attributable to 安德森斯 was $95,713 thousand in 2025, a decrease from $114,012 thousand in 2024.</li><li>Net Cash Provided by Operating Activities: Operating activities provided $176,998 thousand in cash in 2025, a decrease from $331,506 thousand in 2024.</li><li>Net Cash Used in Investing Activities: Investing activities used $195,315 thousand in cash in 2025, compared to $163,074 thousand used in 2024.</li><li>Net Cash Used in Financing Activities: Financing activities used $447,148 thousand in cash in 2025, an increase from $250,359 thousand used in 2024.</li></ul><h4>Agribusiness Segment</h4><ul><li>Operating Results: Operating results for the Agribusiness segment decreased by $52.2 million from the prior year.</li><li>Sales and Merchandising Revenues: Decreased by $196.4 million in 2025 compared to 2024, totaling $8,260,004 thousand.</li><li>Cost of Sales and Merchandising Revenues: Decreased by $230.3 million in 2025 compared to 2024, totaling $7,703,097 thousand.</li><li>Gross Profit: Increased by $33.9 million in 2025, reaching $556,907 thousand, which included $76.0 million from the Skyland acquisition, partially offset by reduced results from legacy assets and merchandising businesses.</li><li>Operating, Administrative and General Expenses: Increased by $68.8 million, primarily due to the acquired Skyland business, totaling $486,935 thousand.</li><li>Asset Impairment: Charges of $14,777 thousand were recorded due to closing underperforming locations and a facility damaged by a grain explosion.</li><li>Interest Expense: Increased by $12.6 million, mainly due to increased borrowing for the Skyland acquisition, totaling $43,482 thousand.</li><li>Other Income, Net: Increased by $9.7 million, driven by $16.8 million in additional property insurance recoveries, partially offset by less interest income.</li><li>Segment Income Before Income Taxes: Was $56,587 thousand in 2025, compared to $109,156 thousand in 2024.</li><li>Grain Storage Capacity: Total capacity was approximately 271 million bushels at December 31, 2025, a decrease from 291 million bushels at December 31, 2024.</li><li>Nutrient Facilities Capacity: Remained approximately one million tons for both dry and liquid storage at December 31, 2025, and 2024.</li></ul><h4>Renewables Segment</h4><ul><li>Operating Results: Operating results were consistent with the prior year before considering noncontrolling interest share.</li><li>Sales and Merchandising Revenues: Decreased by less than 2% in 2025 compared to 2024, totaling $2,748,924 thousand.</li><li>Cost of Sales and Merchandising Revenues: Decreased in line with revenues, totaling $2,592,180 thousand.</li><li>Gross Profit: Decreased by $14.2 million, mainly due to an $11.1 million decrease in ethanol plant results, totaling $156,744 thousand.</li><li>Operating, Administrative and General Expenses: Increased by $5.7 million, primarily due to $5.9 million in costs for the acquisition of the remaining equity interests in TAMH, totaling $42,680 thousand.</li><li>Asset Impairment: Charges increased by $3,352 thousand due to equipment impairment for corn oil refinement.</li><li>Interest Expense: Increased by $2.9 million due to greater borrowings for the TAMH acquisition, totaling $5,681 thousand.</li><li>Other Income, Net: Increased by $26.4 million, including $35.0 million from Section 45Z clean fuel production tax credits, partially offset by a $3.4 million decline in interest income and the absence of a $3.1 million gain from the ELEMENT deconsolidation in the prior year.</li><li>Segment Income Before Income Taxes: Was $140,102 thousand in 2025, compared to $139,760 thousand in 2024.</li><li>Ethanol (gallons shipped): 789,242 thousand in 2025, down from 793,554 thousand in 2024.</li><li>E-85 (gallons shipped): 43,438 thousand in 2025, down from 47,073 thousand in 2024.</li><li>Renewable feedstocks (pounds shipped): 1,446,092 thousand in 2025, down from 1,634,213 thousand in 2024.</li><li>Dried distillers grains (tons shipped): 2,130 thousand in 2025, down from 2,451 thousand in 2024.</li><li>Clean Fuel Production Credits: Recognized $35.0 million of Section 45Z credits in 2025.</li></ul><h4>Other (Corporate) Activities</h4><ul><li>Corporate Expenses: Increased by $7.1 million, primarily due to increased long-term incentive costs and a $1.4 million pension plan settlement charge, totaling $55,619 thousand.</li></ul><h4>Outlook / Guidance</h4>The company anticipates an uplift in its Agribusiness segment in 2026, driven by traditional basis appreciation, continued export demand, and solid domestic premium ingredient demand. The Renewables segment is expected to benefit from favorable biofuels policies, sustained export demand, and Section 45Z clean fuel production tax credits. The company projects capital expenditures between $200 million to $225 million in 2026, split between growth and maintenance capital.

Andersons | 10-K: FY2025 Revenue Misses Estimate at USD 11.01 B