The Andersons, Inc. Revises EPS Estimate
Nov 26, 2008
The Andersons, Inc.
The full-year 2008 guidance is expected to be within the range of $2.00 and $2.80 per diluted share, down from the previous estimate of $3.50 to $4.00 per diluted share announced in October. The company's earnings per diluted share for 2007 were $3.75, which set a company record.
The current guidance adjustment is the result of continued volatility in the plant nutrient sector which has driven previous guidance adjustments both upward and downward during the course of the year. Although volatility is inherent to the commodities markets, the current unpredictability in plant nutrient product valuation is at unprecedented levels. For that reason, we have widened our range beyond our normal levels, and there remains the potential for additional guidance adjustments in the weeks ahead.
About The Andersons, Inc. 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 railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in 12 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico. For more, visit The Andersons online at www.andersonsinc.com.
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SOURCE: The Andersons, Inc.
CONTACT: Gary L. Smith, VP, Finance & Treasurer of The Andersons, Inc.,
Web site: http://www.andersonsinc.com/