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Andersons (ANDE) Q4 FY2023 earnings: revenue $3.2 billion, down 31.3% on the year

Andersons, Inc. (ANDE) reported revenue of $3.2 billion for Q4 FY2023, the quarter ended 31 December 2023, down 31.3% on the same quarter a year earlier. Net income was $51 million, up 467.2% on the year, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.

Revenue$3.2 billiondown 31.3%
Net income$51 millionup 467.2%
Diluted EPS$1.49
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue3,2133,636n/an/a
Cost of revenue2,9953,478n/an/a
Gross profit218158n/an/a
Gross margin6.8%4.3%n/a
Pre-tax income91.838.4n/an/a
Income tax13.37.9n/an/a
Effective tax rate14.5%20.5%n/a
Net income51.29.7n/an/a
Net margin1.6%0.3%n/a
Diluted EPS$1.49$0.28n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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 and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow251489n/an/a
Capital expenditure41.733.7n/an/a
Free cash flow209455n/an/a
Free cash flow margin6.5%12.5%n/a
Cash from investing-36.6-45.6n/an/a
Cash from financing11.9-121n/an/a
Depreciation and amortisation31.324.9n/an/a
Buybacks0.00.0n/an/a
Dividends paid6.66.2n/an/a
Dividend per sharen/a$0.18n/an/a
Diluted shares, weightedn/a34mn/an/a
Shares outstanding at period end34m34mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity1,2831,241n/an/a
Non-controlling interest233208n/an/a
Short-term borrowings43.114.1n/an/a
Debt563570n/an/a
Operating lease liabilities31.732.9n/an/a
Finance lease liabilities7.9n/an/an/a
Other liabilities1,6931,522n/an/a
Total liabilities and equity3,8553,588n/an/a
Fixed assets693680n/an/a
Goodwill128129n/an/a
Intangible assets85.6n/an/an/a
Cash and equivalents644418n/an/a
Inventory1,167985n/an/a
Other assets1,1381,376n/an/a
Total assets3,8553,588n/an/a

Questions

What was Andersons' revenue in Q4 FY2023?

Andersons (ANDE) reported revenue of $3.2 billion for Q4 FY2023, the quarter ended 31 December 2023, down 31.3% on the same quarter a year earlier.

How much did Andersons earn in Q4 FY2023?

Net income for Q4 FY2023 was $51 million, up 467.2% on the year, and diluted earnings per share $1.49.

When did Andersons report Q4 FY2023 results?

Andersons filed its 10-K for the year that ended with the quarter on 21 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,6363,2132,7182,7952,6213,1232,6593,1362,6782,5362,6273,098
Cost of revenue3,4782,9952,5902,6202,4442,9102,5062,9772,5072,3052,4672,874
Gross profit158218128175177213153158171231161224
Gross margin4%7%5%6%7%7%6%5%6%9%6%7%
Pre-tax income38.491.814.057.362.267.33.224.825.887.633.967.3
Tax rate20%15%9%9%17%20%-66%32%-1%19%13%20%
Net income9.751.25.636.027.445.10.37.920.167.433.256.6
Net margin0%2%0%1%1%1%0%0%1%3%1%2%
Diluted EPS$0.28$1.49$0.16$1.05$0.80$1.31$0.01$0.23$0.59$1.97$0.97$1.65
Operating cash flow489251-240304-2.1269-350299234-6.2-394488
Capital expenditure33.741.726.828.637.856.046.548.866.870.951.775.6
Free cash flow455209-266276-40.0213-397250167-77.1-445412
Buybacks0.00.0n/an/an/an/an/an/a14.2n/an/an/a
Dividends paid6.26.66.56.56.56.86.76.76.57.06.86.8
Shares outstanding34m34m34m34m34m34m34m34m34m34m34m34m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 21 February 2024, accession 0000821026-24-000071: the filing on EDGAR. All of Andersons, Inc.'s filings: EDGAR company page.

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