The Andersons, Inc. Expects EPS to Exceed Previous Guidance
Cites Improvements In Agricultural Businesses
Jun 20, 2007
The Andersons, Inc.
According to President and Chief Executive Officer Mike Anderson, "Our earnings outlook for 2007 has increased primarily because of strong second quarter performance in our agricultural businesses. When we last provided guidance, planting progress within our region was behind historical norms. Planting has now been successfully completed. This has had a positive impact on the earnings outlook for our Grain & Ethanol and Plant Nutrient Groups. Specifically, our Plant Nutrient Group has benefited from the increased corn acreage and associated higher volume and margins. Additionally, our new ethanol plant in Clymers, IN has begun producing ethanol, and both ethanol plants are realizing better margins and throughput than our earlier projections envisioned." Mr. Anderson added "Of course, our full-year results will be influenced by conditions throughout the remainder of the 2007 growing season. We will continue to evaluate our earnings projections as we progress through the year."
The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in rail leasing, industrial products formulation, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in seven U.S. states plus rail equipment leasing interests in Canada and Mexico.
This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.
The Andersons, Inc. is located on the Internet at http://www.andersonsinc.com/.
First Call Analyst:
SOURCE: The Andersons, Inc.
CONTACT: Gary Smith of The Andersons, Inc., +1-419-891-6417
Web site: http://www.andersonsinc.com/