Andersons Inc (ANDE)

Business Description

The Andersons, Inc. is a diversified agribusiness headquartered in Maumee, Ohio, founded in 1947. The company operates across the agricultural supply chain, specializing in commodity merchandising, ethanol production, and the manufacturing of plant nutrients and industrial products. It sells commodities like corn, wheat, and soybeans, renewable fuels such as ethanol, and a variety of agricultural and industrial inputs.

Trade - Merchandises and manages logistics for commodities, including grains, grain products, and feed ingredients, while operating grain elevators across North America.
Renewables - Produces and markets ethanol and ethanol co-products, including renewable diesel feedstocks, through co-owned ethanol production facilities.
Nutrient & Industrial - Manufactures and distributes fertilizers, turf care products, and industrial solutions such as deicers and dust abatement products.

Key Metrics

View all financials →

Leadership

Name	Position	External Roles	Short Bio
Anne G. Rex Executive	Vice President, Strategy, Planning, and Development	None	Joined ANDE in 2002, serving in current role since 2019, previously VP and Corporate Controller.
Brian A. Valentine Executive	Executive Vice President and CFO	None	Serving as CFO, confirmed by recent filings, but further details are not available in the documents.
Brian K. Walz Executive	Vice President and Treasurer	None	Serving since 2019, previously Senior Director, Corporate Strategy and Development.
Christine M. Castellano Executive	Executive Vice President, General Counsel & Corporate Secretary	None	Joined ANDE in 2020, overseeing legal, compliance, and corporate governance matters, previously served at Ingredion Incorporated.
Joseph E. McNeely Executive	President of Nutrient and Industrial	None	President since 2020, announced retirement for December 31, 2024, previously led Rail Group and served as CEO at FreightCar America.
Michael T. Hoelter Executive	Vice President, Corporate Controller, and Investor Relations	None	Serving since 2021, previously held roles as Corporate Controller and Assistant Corporate Controller at ANDE.
Patrick E. Bowe Executive	President and CEO	None	Patrick E. Bowe has been the President and CEO since 2015, with over 35 years in the agricultural sector, previously holding leadership roles at Cargill, Inc..
Sarah J. Zibbel Executive	Executive Vice President and CHRO	None	Joined ANDE in 2018, promoted to EVP and CHRO in 2023.
William E. Krueger Executive	President and CEO	Executive Committee Member, NGFA; Board Member, Children's Mercy Hospital	Became CEO in 2024, previously COO and President of Trade and Processing Business, instrumental in strategic growth initiatives.
Catherine M. Kilbane Board	Director	Director of The Davey Tree Expert Company; Director of Interface, Inc.; Trustee of The Cleveland Clinic Foundation	Director since 2007, previously General Counsel at Sherwin-Williams and American Greetings, partner at Baker & Hostetler LLP.
Gary A. Douglas Board	Director	Development Committee of the National Urban League; Governance Committee of NAMIC; Sustainability Committee of AALA	Director since 2021, over 20 years of senior management experience, retired from Nationwide National Partners.
Gerard M. Anderson Board	Director	Director of The AES Corporation; Senior Adviser to ArcLight Capital	Director since 2008, with roles at AES Corporation and ArcLight Capital.
Pamela S. Hershberger Board	Director	None	Director since 2019, over 30 years of public accounting experience, retired Managing Partner at Ernst & Young LLP.
Robert J. King, Jr. Board	Director	Director of Oak Tree Holdings LLC; Director of Medical Mutual of Ohio	Director since 2005, extensive banking and finance experience, former CEO of PVF Capital Corp, roles at Fifth Third Bank.
Ross W. Manire Board	Director	Advisory Partner to private equity firms; Director of Zebra Technologies Corporation	Director since 2009, recognized for expertise in mergers and acquisitions, financial expert, former CEO of ExteNet Systems.
Steven K. Campbell Board	Director	Guest Lecturer at Auburn University	Director since 2022, extensive experience in grain trading and operations, previously with Louis Dreyfus and ADM.

Questions to Ask Management

Given the uncertainty surrounding the 45Z guidelines and the regulatory environment, how are you adjusting your investment strategy in the Renewables segment, particularly regarding lowering carbon intensity and projects like carbon sequestration?
With the consolidation of the Nutrient & Industrial and Trade groups into the new Agribusiness segment, what specific synergies do you expect to achieve, and how will this integration enhance your ability to capitalize on opportunities like climate-smart agriculture?
Considering the soft industry fundamentals and limited farmer engagement affecting your agricultural businesses, what strategies are you employing to mitigate these challenges and improve performance in the Nutrient & Industrial segment?
The expansion of your facility at the Port of Houston is expected to limit capacity through that facility for 2025; how do you anticipate this will impact your operations and financial performance in the short term, and what measures are you taking to manage this?
With elevated prices for ethanol plants that have access to carbon sequestration or utilization, how do you plan to remain disciplined in your investment criteria while pursuing growth opportunities in the Renewables segment, and what challenges might this pose?

Program Details	Program 1
Approval Date	August 15, 2024
End Date/Duration	August 15, 2027
Total Additional Amount	$100 million
Remaining Amount	$97.7 million (as of December 31, 2024)
Details	Balanced approach to capital allocation, including shareholder returns, growth investments, and M&A opportunities.

Competitors

Competitors mentioned in the company's latest 10K filing.

Company	Description
Archer-Daniels-Midland Co	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Green Plains Inc	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Alto Ingredients Inc	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Mosaic Co	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Bunge Global SA	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Nutrien Ltd	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
Darling Ingredients Inc	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.
REX American Resources Corp	Included in the peer group index for performance comparison, reflecting alignment with the company's core business structure and product lines.