Andersons (ANDE) FY2019 results: revenue $8.0 billion, up 162.8% on the year
Andersons, Inc. (ANDE) reported revenue of $8.0 billion for fiscal 2019, the year ended 31 December 2019, up 162.8% on the year before. Net income was $18 million, down 55.9%, and diluted earnings per share $0.55. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$8.0 billion
+162.8% on the year
FY2012FY2019
Operating margin
0.3%
1.4% a year earlier
FY2012FY2019
Net income
$18 million
-55.9% on the year
FY2012FY2019
Diluted EPS
$0.55
-62.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
8,003
3,045
3,686
+162.8%
Cost of revenue
7,542
2,743
3,368
+174.9%
Gross profit
461
302
319
+52.6%
Gross margin
5.8%
9.9%
8.6%
Operating income
23.9
44.1
31.8
-45.8%
Operating margin
0.3%
1.4%
0.9%
Pre-tax income
13.0
53.2
-20.5
-75.5%
Income tax
9.1
11.9
-63.1
-23.4%
Effective tax rate
70.2%
22.4%
n/a
Net income
18.3
41.5
42.5
-55.9%
Net margin
0.2%
1.4%
1.2%
Diluted EPS
$0.55
$1.46
$1.50
-62.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
349
-35.5
75.3
Capital expenditure
165
143
34.6
+15.9%
Free cash flow
183
-178
40.7
Free cash flow margin
2.3%
-5.8%
1.1%
Cash from investing
-325
-186
-113
Cash from financing
8.7
209
10.5
-95.8%
Depreciation and amortisation
146
90.3
86.4
+61.9%
Share-based compensation
16.2
6.6
6.1
+145.0%
Buybacks
n/a
n/a
0.0
Dividends paid
22.1
18.6
18.2
+18.7%
Dividend per share
$0.69
$0.67
$0.65
+3.0%
Diluted shares, weighted
33m
28m
28m
+16.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
974
830
815
+17.3%
Non-controlling interest
222
46.4
7.7
+378.1%
Debt
1,226
723
495
+69.6%
Operating lease liabilities
51.1
0.0
n/a
Finance lease liabilities
21.5
0.0
n/a
Other liabilities
1,406
792
845
+77.5%
Total liabilities and equity
3,901
2,392
2,162
+63.1%
Fixed assets
938
477
385
+96.9%
Goodwill
131
1.9
6.0
+6,964.8%
Intangible assets
175
99.1
113
+76.8%
Cash and equivalents
54.9
22.6
34.9
+143.0%
Inventory
1,171
691
649
+69.4%
Other assets
1,430
1,101
975
+29.9%
Total assets
3,901
2,392
2,162
+63.1%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.