Maumee, Ohio-The Andersons Inc. said Oct. 28 that it expects full-year earnings per share to be less than previous guidance. The full-year 2008 guidance is expected to be within the range of $3.50-$4.00 per diluted share, down from the previous estimate of $5.00-$5.40 per diluted share announced in July. The company’s earnings per diluted share for 2007 were $3.75, which set a company record. The original guidance for the year, issued in May, was a range of $3.65-$4.00 per diluted share. Subsequent increases in guidance during the year resulted from realized and anticipated effects from sharp increases in global fertilizer prices. The decrease is primarily attributed to the recent sharp decline in global fertilizer prices, which has led to write-downs of certain fertilizer inventories. This will lead to significant margin decreases within the Plant Nutrient Group. In addition, despite falling prices, fourth-quarter volume for the group is expected to be weak. In spite of this change, the Plant Nutrient Group is expected to have a record performance in 2008.
Transparency Across the Fertilizer Value-Chain