The Andersons Inc., Maumee, Ohio, reported a third quarter 2018 net loss attributable to The Andersons of $2.1 million, or ($0.07) per diluted share, on revenues of $686 million. Those results compared to 2017 third quarter net income of $2.5 million, or $0.09 per diluted share, on revenues of $837 million.
“The overriding driver of our third quarter results was the mark-to-market impact on our grain inventories that we believe will substantially rebound before year-end,” said Pat Bowe, president and CEO. “The Ethanol Group continued to perform well despite tough market conditions, and Plant Nutrient and Rail results were not much different than those of last year’s third quarter.”
“The Plant Nutrient Group’s margins continued to be compressed, and year-over-year volumes were somewhat lower as some September shipments were delayed,” he added.