While The Andersons said first quarter fertilizer volumes were lower than expected due to poor weather conditions at the start of planting season, the company’s Plant Nutrient Group, which now includes the former Turf & Specialty segment, saw a uptick in income before taxes to $424,000 on revenues of $153.9 million for the first quarter, up from a year-ago loss of $36,000 on sales of $151.3 million.
The Andersons hopes to regain some of the fertilizer business it lost in the first and fourth quarters in the second quarter.
Company-wide, net income sank to $3.94 million ($0.14 per diluted share) on revenues of $950.1 million, down from the year-ago $26 million ($0.80 per share) and $1 billion, respectively.