Andersons (ANDE) FY2018 results: revenue $3.0 billion, down 17.4% on the year
Andersons, Inc. (ANDE) reported revenue of $3.0 billion for fiscal 2018, the year ended 31 December 2018, down 17.4% on the year before. Net income was $41 million, down 2.4%, and diluted earnings per share $1.46. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$3.0 billion
-17.4% on the year
FY2011FY2018
Operating margin
1.4%
0.9% a year earlier
FY2011FY2018
Net income
$41 million
-2.4% on the year
FY2011FY2018
Diluted EPS
$1.46
-2.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,045
3,686
3,925
-17.4%
Cost of revenue
2,743
3,368
3,579
-18.5%
Gross profit
302
319
346
-5.3%
Gross margin
9.9%
8.6%
8.8%
Operating income
44.1
31.8
29.4
+38.8%
Operating margin
1.4%
0.9%
0.7%
Pre-tax income
53.2
-20.5
21.4
Income tax
11.9
-63.1
6.9
Effective tax rate
22.4%
n/a
32.3%
Net income
41.5
42.5
11.6
-2.4%
Net margin
1.4%
1.2%
0.3%
Diluted EPS
$1.46
$1.50
$0.41
-2.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-35.5
75.3
39.6
Capital expenditure
143
34.6
77.7
+312.1%
Free cash flow
-178
40.7
-38.2
Free cash flow margin
-5.8%
1.1%
-1.0%
Cash from investing
-186
-113
-28.2
Cash from financing
209
10.5
-12.5
+1,892.6%
Depreciation and amortisation
90.3
86.4
84.3
+4.5%
Share-based compensation
6.6
6.1
7.0
+8.6%
Buybacks
n/a
0.0
0.0
Dividends paid
18.6
18.2
17.4
+2.7%
Dividend per share
$0.67
$0.65
$0.62
+3.1%
Diluted shares, weighted
28m
28m
28m
+0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
830
815
774
+1.9%
Non-controlling interest
46.4
7.7
16.3
+503.4%
Debt
723
495
474
+46.1%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
792
845
969
-6.2%
Total liabilities and equity
2,392
2,162
2,233
+10.6%
Fixed assets
477
385
450
+23.9%
Goodwill
1.9
6.0
63.9
-69.2%
Intangible assets
99.1
113
106
-12.2%
Cash and equivalents
22.6
34.9
62.6
-35.3%
Inventory
691
649
683
+6.5%
Other assets
1,101
975
867
+12.9%
Total assets
2,392
2,162
2,233
+10.6%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.