Thursday, Jul 28, 2016
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Economy

The Andersons profit rises 1 percent in 2nd quarter

Led by record operating income in its ethanol and rail divisions, The Andersons Inc. on Tuesday reported a second-quarter profit of $29.5 million, or $1.57 per share, up 1 percent from the same period a year ago when the Maumee agribusiness had a profit of $29.2 million, or $1.56 per share.

The company, which reported earnings after markets closed, said quarterly revenues totaled $1.6 billion, up from $1.3 billion a year ago.

The ethanol division reported operating income of $10.6 million on revenues of $222 million in the second quarter. The rail division had operating income of $9.7 million on revenues of $39 million.

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