Maumee, Ohio-The Andersons Inc. on June 20 announced revised full-year earnings per share estimates that are expected to exceed previous projections. In early May, the company indicated it anticipated full-year earnings in the range of $2.35-$2.60 per diluted share. The company is now forecasting its 2007 earnings per diluted share to be between $2.80 and $3.05. “Our earnings outlook for 2007 has increased primarily because of strong second quarter performance in our agricultural businesses,” said President and CEO Mike Anderson. “When we last provided guidance, planting progress within our region was behind historical norms. Planting has now been successfully completed. This has had a positive impact on the earnings outlook for our Grain & Ethanol and Plant Nutrient Groups. Specifically, our Plant Nutrient Group has benefited from the increased corn acreage and associated higher volume and margins. Additionally, our new ethanol plant in Clymers, Ind., has begun producing ethanol, and both ethanol plants are realizing better margins and throughput than our earlier projections envisioned.”
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