ANDE · The Andersons, Inc.

Summary

The Andersons, Inc. announced record fourth quarter 2025 financial results with net income attributable to the company of $67 million, or $1.97 per diluted share, and adjusted net income of $70 million, or $2.04 per diluted share. The results were driven by strong performance in the Renewables and Agribusiness segments, with Renewables reporting record production.

Key takeaways

• Fourth quarter 2025 net income attributable to The Andersons, Inc. was $67.4 million, or $1.97 per diluted share, compared to $45.1 million, or $1.31 per diluted share, in the prior year quarter.
• Adjusted EBITDA for the fourth quarter was $136.5 million, an increase of $20.0 million from $116.5 million in the fourth quarter of 2024.
• Renewables segment pretax income rose to $54.3 million in Q4 2025 from $17.1 million in Q4 2024, benefiting from record production and $15 million in 45Z tax credits.
• Agribusiness segment pretax income was $45.0 million for Q4 2025, down from $56.0 million in the prior year quarter.
• Full year 2025 net income attributable to the company was $95.7 million, or $2.79 per diluted share, compared to $114.0 million, or $3.32 per diluted share, in 2024.
• Long-term debt to adjusted EBITDA ratio remained at 1.8 times, below the target of 2.5 times.