The Andersons, Inc. (Nasdaq: ANDE) has reported strong financial results for the third quarter of 2026, marking significant year-over-year improvements in both its Renewables and Agribusiness segments. The company announced a record net income of $46 million, or $1.36 per diluted share, with adjusted net income reaching $47 million, or $1.38 per diluted share. Adjusted EBITDA for the quarter stood at $101 million.
President and CEO Bill Krueger highlighted the strong performance of the Renewables segment, which reported a record pretax income of $63 million. This was driven by efficient operations, higher co-product values, and lower eastern corn basis. The segment also benefited from $27 million in 45Z tax credits due to low-carbon strategies. Ethanol and corn-oil yields improved year-over-year, contributing to the positive results.
The Agribusiness segment saw a pretax income attributable to The Andersons of $5 million and an adjusted pretax income of $9 million. Krueger attributed this improvement to increased market volatility, higher commodity prices, and weather variability in the western grain belt. He expressed optimism about market dislocations and a solid eastern grain belt harvest, which are expected to provide opportunities in the fourth quarter and into 2027.
Krueger also discussed the company's ongoing growth projects, noting that the Port of Houston's soybean meal export project is now operational and actively booking shipments. The ethanol de-bottlenecking project in Clymers, Indiana, remains on track to add 30 million gallons of capacity by mid-2027. The company is pursuing additional opportunities to reduce carbon intensity at all plants to maximize the value of low-carbon ethanol.