Every material Form 8-K The Andersons has filed with the SEC since August 06, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On November 3, 2026, subsidiary The Andersons Renewables, LLC agreed to acquire Harvestone Low Carbon Partners from Energy Capital Partners for $915 million. The three ethanol plants in North Dakota and Indiana have about 215 million gallons of annual capacity, and the company plans to fund the deal with about $300 million from its revolving credit facility and $615 million of new long-term debt. Closing is expected in the fourth quarter of 2026 or early in the first quarter of 2027, subject to regulatory approvals; the company says the deal is expected to be immediately accretive to earnings per share, but the filing gives no figures for this.
Purchase price of $915 million, with about half attributed to expected 45Z and 45Q tax credit cash flows
Three ethanol plants with about 215 million gallons of annual production capacity, combined platform about 730 million gallons
Financing of about $300 million from the revolving credit facility and $615 million in new long-term debt, with committed financing from U.S. Bank and Farm Credit Mid-America
Expected closing in the fourth quarter of 2026 or early in the first quarter of 2027
The Andersons reported third quarter 2026 results that improved sharply from a year earlier. Net income attributable to the company was $46 million, or $1.36 per diluted share, compared with $20 million, or $0.59, in the third quarter of 2025, and the company called it a record third quarter for net income. The filing does not change full-year guidance, but it gives an adjusted full-year effective tax rate of approximately 14% to 18%, and management will discuss its outlook on a November 4, 2026 webcast.
Net income attributable to the company was $46.4 million, or $1.36 per diluted share, versus $20.1 million, or $0.59, a year earlier.
Adjusted diluted EPS was $1.38, compared with $0.84 in the third quarter of 2025; adjusted EBITDA was $101.4 million, compared with $78.3 million.
Renewables reported record third quarter pretax income of $63 million, while Agribusiness pretax income attributable to the company was $5 million.
Cash used in operating activities was $124 million in the third quarter of 2026, compared with cash provided of $234 million a year earlier.
Andersons, Inc. said it eliminated the position of Executive Vice President and Chief Human Resources Officer Sarah J. Zibbel as part of a restructuring of its human resources department, with her employment ending October 31, 2026. The filing describes severance-related benefits and treatment of her equity awards, but it does not disclose financial figures for these payments.
Notice of position elimination given October 21, 2026; employment ends October 31, 2026
Ms. Zibbel is entitled to benefits under the Company's Change in Control & Severance policy for a qualifying termination
She keeps outstanding restricted stock units and a pro-rated portion of 2024 performance share units earned through the period ending in 2026
Her 2025 and 2026 performance share units will be forfeited
The Andersons reported second quarter 2026 net income attributable to the company of $56.6 million, or $1.65 per diluted share, compared with $7.9 million, or $0.23 per diluted share, a year earlier. Adjusted diluted EPS was $2.15 versus $0.24, and quarterly sales and merchandising revenues were $3.10 billion, down slightly from $3.14 billion, so the headline measures point in different directions. The company also gave a full-year adjusted effective tax rate estimate of approximately 14% to 18% and will hold a conference call on August 4, 2026.
Net income attributable to the company was $56.6 million, or $1.65 per diluted share, versus $7.9 million, or $0.23, in Q2 2025.
Adjusted diluted EPS was $2.15 versus $0.24; adjusted EBITDA was $140.3 million versus $65.2 million.
Sales and merchandising revenues were $3.10 billion versus $3.14 billion in Q2 2025.
Renewables reported record second quarter pretax income of $65 million; the webcast is set for August 4, 2026 at 8:30 a.m. ET.
The Andersons, Inc. named David R. Heppner, chief strategy officer and senior vice president of business development at Marathon Petroleum Corporation, as a director effective June 18, 2026. The filing describes his term as running to the 2027 Annual Meeting of Stockholders and says no financial figures were disclosed for his appointment.
Heppner was elected to the board effective June 18, 2026, for a term ending at the 2027 Annual Meeting of Stockholders.
He will receive non-employee director compensation as previously disclosed in the proxy statement filed March 11, 2026.
Heppner has nearly four decades of experience at Marathon Petroleum, which he joined in 1988.
The filing states he has no material interest in any related-person transaction and will sign the standard director indemnification agreement.
The Andersons reported first quarter 2026 results on May 5, 2026, with net income attributable to the company of $33 million, or $0.97 per diluted share, up from $0.3 million, or $0.01, a year earlier. Sales and merchandising revenues were $2.63 billion, slightly below $2.66 billion, while Renewables and Agribusiness both improved on higher pretax income. Cash used in operating activities widened to $394 million, and management said it remains focused on its $7.00 run-rate EPS target for exiting 2028.
Net income attributable to The Andersons was $33 million, or $0.97 per diluted share, versus $0.3 million, or $0.01, in Q1 2025.
Adjusted EPS was $1.12 versus $0.12 a year earlier; adjusted EBITDA was $91 million versus $57 million.
Renewables pretax income was $40 million; Agribusiness pretax income was $7 million versus a pretax loss of $10 million in Q1 2025.
Cash used in operating activities was $394 million versus $350 million; a webcast is set for May 6, 2026, at 8:30 a.m. ET.
On March 20, 2026, The Andersons completed an amendment to its credit agreement with U.S. Bank that reduces the revolving credit facility from $1.55 billion to $1.30 billion and extends its maturity to March 20, 2031. The amendment also extends a $114.3 million term loan to the same date and combines two term loans, $170.1 million and $86.3 million, into a single $256.4 million loan maturing March 20, 2034, which lengthens the company's debt repayment schedule.
Revolving credit capacity reduced from $1.55 billion to $1.30 billion; maturity extended to March 20, 2031
$114.3 million term loan maturity extended to March 20, 2031
$170.1 million term loan and $86.3 million term loan (dated April 3, 2023) combined into one $256.4 million loan maturing March 20, 2034
Borrowings continue to bear variable interest based on SOFR plus an applicable spread
The Andersons reported fourth quarter 2025 net income attributable to the company of $67 million, or $1.97 per diluted share, up from $45 million, or $1.31, a year earlier. Full year net income fell to $96 million, or $2.79 per diluted share, from $114 million, or $3.32, and quarterly sales declined to $2.5 billion from $3.1 billion, so shareholders see mixed results.
Q4 2025 adjusted net income was $70 million, or $2.04 per diluted share, versus $1.36 in Q4 2024
Q4 2025 sales and merchandising revenues were $2.5 billion, down from $3.1 billion a year earlier
Renewables Q4 pretax income was $54 million, up from $17 million attributable to the company in Q4 2024
Full year adjusted EBITDA was $337 million in 2025, compared with $363 million in 2024
The Andersons reported third quarter 2025 results, with sales and merchandising revenues of $2.68 billion, up from $2.62 billion a year earlier. Net income attributable to the company fell to $20 million from $27 million, and diluted EPS fell to $0.59 from $0.80, while adjusted EPS rose to $0.84 from $0.72. Shareholders face a mix of higher sales and adjusted earnings alongside lower reported profit and adjusted EBITDA of $78 million, down from $97 million.
Net income attributable to The Andersons was $20 million, or $0.59 per diluted share, versus $27 million, or $0.80, in Q3 2024
Adjusted net income attributable to the company was $29 million, or $0.84 per diluted share, versus $0.72 a year earlier
Adjusted EBITDA was $78 million versus $97 million in Q3 2024; Agribusiness pretax income was $1 million versus $23 million
Renewables pretax income was $43 million, including $20 million of 2025 year-to-date 45Z tax credits; a conference call is set for November 5, 2025 at 8:30 a.m. ET
The Andersons, Inc. elected Steven Oakland, chairman, CEO and president of TreeHouse Foods, Inc., as a director effective August 21, 2025, for a term ending at the 2026 Annual Meeting of Stockholders. The filing describes this as a board appointment with no financial results or guidance included.
Steven Oakland elected director effective August 21, 2025, term ends at the 2026 Annual Meeting of Stockholders
Oakland is chairman, CEO and president of TreeHouse Foods, Inc., and previously held senior roles at The J.M. Smucker Company
He will receive director compensation in the same manner as other non-employee directors, per the March 12, 2025 proxy statement
Oakland will enter the standard Company director indemnification agreement
The Andersons completed its purchase of Marathon's 49.9% stake in The Andersons Marathon Holdings LLC for $425 million, including $40 million of working capital, on July 31, 2025, giving it full ownership of four ethanol plants with 500 million gallons of annual capacity. In second quarter results, net income attributable to the company fell to $7.9 million, or $0.23 per diluted share, from $36.0 million, or $1.05, a year earlier, even as sales and merchandising revenues rose to $3.1 billion from $2.8 billion. The company funded the deal with cash on hand and existing credit facilities, and said it expects immediate accretion to earnings per share.
Q2 2025 net income attributable to The Andersons was $7.9 million, or $0.23 per diluted share, versus $36.0 million, or $1.05, in Q2 2024.
Q2 2025 sales and merchandising revenues were $3.1 billion, up from $2.8 billion in Q2 2024.
Acquisition price was $425 million, including $40 million of working capital; the transaction closed July 31, 2025.
Full-year adjusted effective tax rate is now expected to be approximately 22% to 25%.
The Andersons reported first quarter 2025 results, with net income attributable to the company falling to $0.3 million, or $0.01 per diluted share, from $5.6 million, or $0.16, a year earlier. Sales and merchandising revenues declined to $2.66 billion from $2.72 billion, and adjusted EBITDA rose to $57 million from $51 million, driven by Renewables. For shareholders, the headline profit measures weakened, and the company used $350 million of cash in operations during the quarter.
Net income attributable to The Andersons was $0.3 million, or $0.01 per diluted share, versus $5.6 million, or $0.16, in Q1 2024.
Adjusted diluted EPS was $0.12, compared with $0.16 a year earlier.
Agribusiness recorded a pretax loss of $10 million; Renewables reported pretax income of $25 million.
Cash used in operating activities was $350 million, compared with $240 million in the first quarter of 2024.
Andersons, Inc. said its Executive Vice President, General Counsel and Corporate Secretary, Christine M. Castellano, will retire effective April 18, 2025. The company will provide benefits consistent with a qualifying termination under its Change in Control & Severance policy.
Castellano informed the company of her retirement decision on March 24, 2025.
Retirement is effective April 18, 2025.
The filing does not name a successor or describe any financial figures for the retirement benefits.
The Andersons reported fourth quarter 2024 net income attributable to the company of $45 million, or $1.31 per diluted share, down from $51 million, or $1.49 per share, a year earlier. For the full year, net income rose to $114 million, or $3.32 per diluted share, from $101 million, or $2.94 per share, but adjusted EBITDA for the year was $363 million, down from $405 million in 2023.
Q4 2024 net income attributable to the company was $45.1 million, versus $51.2 million in Q4 2023
Q4 2024 sales and merchandising revenues were $3.12 billion, versus $3.21 billion in Q4 2023
Full-year 2024 net income was $114.0 million ($3.32 per diluted share), versus $101.2 million ($2.94) in 2023
Management will discuss results and 2025 outlook on a webcast on February 19, 2025, at 8:30 a.m. ET
The Andersons completed its purchase of a 65% ownership interest in Skyland Grain, LLC on November 1, 2024, for $85.0 million, funded with cash on hand and subject to customary working capital adjustments. Skyland's results will be consolidated into The Andersons' financial statements, and Skyland entered a $378 million credit agreement that is secured by its assets and non-recourse to The Andersons.
65% ownership interest in Skyland Grain, LLC purchased for $85.0 million, completed November 1, 2024
Skyland entered an amended and restated credit agreement with COBANK, ACB and Farm Credit Mid-America, PCA, including a three-year $300 million revolving credit facility and $78 million of term notes
$300 million revolver and $67 million of term notes bear variable rates based on SOFR plus a spread; $11 million of term notes bear fixed rates of 4.0% to 5.8%
Skyland has more than 7,000 active co-op members across more than 50 grain and agronomy locations
The Andersons reported third quarter 2024 net income attributable to the company of $27.4 million, or $0.80 per diluted share, up from $9.7 million, or $0.28, a year earlier. Sales and merchandising revenues fell to $2.62 billion from $3.64 billion, which the company attributed to lower commodity prices. Shareholders get higher profit on lower revenue, with a webcast on November 5, 2024 to discuss the outlook.
Net income attributable to the company was $27.4 million, or $0.80 per diluted share, versus $9.7 million, or $0.28, in Q3 2023.
Adjusted diluted EPS was $0.72, compared with $0.13 a year earlier; adjusted EBITDA was $97.4 million, versus $70.3 million.
Sales and merchandising revenues were $2.62 billion, down from $3.64 billion in Q3 2023.
Webcast to discuss results and outlook is set for Tuesday, November 5, 2024, at 11 a.m. Eastern Time.
The Andersons board appointed Chief Operating Officer William E. Krueger as president and chief executive officer effective October 1, 2024, succeeding Patrick E. Bowe, who has led the company since 2015. Bowe will stay on as Executive Chair of the board and Krueger will join the board, so shareholders see a planned leadership transition with continuity at the top of the board.
Krueger succeeds Bowe as CEO effective October 1, 2024; he also joins the board on that date
Bowe remains Executive Chair of the board through September 30, 2025
Krueger's compensation includes a $1,000,000 base salary and an anticipated 2025 equity grant value of $3,000,000
Bowe's letter agreement sets a $500,000 base salary
The Andersons reported second quarter 2024 results on August 6, 2024, with net income attributable to the company of $36 million, or $1.05 per diluted share, down from $55 million, or $1.61, a year earlier. Adjusted EPS was $1.15 versus $1.52, and sales and merchandising revenues fell to $2.8 billion from $4.0 billion. Shareholders face lower quarterly profit across the Renewables and Nutrient & Industrial segments, and management said it expects to update on the Skyland Grain opportunity later in the third quarter.
Net income attributable to The Andersons was $36 million ($1.05 diluted EPS) versus $55 million ($1.61) in Q2 2023.
Adjusted EPS was $1.15 versus $1.52 a year earlier; adjusted EBITDA was $98 million versus $144 million.
Sales and merchandising revenues were $2.8 billion versus $4.0 billion in Q2 2023.
Management expects to provide an update on the Skyland Grain opportunity later in the third quarter.
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