The Andersons reports profitable Q3 for renewables segment

▤ Summary

The Andersons Inc. on Nov. 1 reported a profitable third quarter for its renewables segment despite declining crush margins and planned maintenance shutdowns. The company’s Kansas plant was impacted by high corn prices related to the ongoing drought in the region. The Andersons also indicated that third quarter performance in the renewables segment was also supported by high coproduct values. Brian Valentine, executive vice president and chief financial officer at The Andersons, said corn oil values in particular remained high during the quarter, adding to plant profitability. Renewable diesel feedstock merchandizing activities continue to expand, he added, which also contributed to the positive quarterly results.

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