| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 83 | 13.7x | 17.8x | Top tier | |
Growth | 29 | -5.2% | 7.1% | Bottom tier | |
Quality | 37 | 9.9% | 4.5% | Bottom tier | |
Safety | 69 | 1.5x | 2.6x | Top tier | |
Capital Return | 46 | 1.12% | 2.12% | Around median | |
Momentum | 81 | 70.3% | 2.9% | Top tier | |
Sentiment | 32 | 3 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
The Andersons operates through two main interconnected segments. The Trade segment manages grain and oilseed merchandising, assets related to crop origination, storage, and marketing, fertilizers, and premium ingredients used in food and pet food manufacturing, while the Renewables segment produces and markets ethanol and its co-products; consequently, earnings are affected by crop volumes, commodity price volatility, fertilizer margins, and domestic and export demand for biofuels.
In Q2 fiscal 2026, revenue was $3.1 billion, gross profit was $223.7 million, net income was $56.6 million, and diluted earnings per share were $1.65. Gross profit increased by more than 40% compared with the same period, while adjusted net income was $74 million and adjusted earnings per share were $2.15, compared with $8 million and $0.24, respectively, in Q2 fiscal 2025; adjusted earnings before interest, taxes, depreciation, and amortization also increased to $140 million from $65 million.
Most of the earnings surge came from the Renewables segment, which recorded adjusted pretax income of $88 million and adjusted earnings before interest, taxes, depreciation, and amortization of $103 million, compared with $10 million and $30 million in Q2 fiscal 2025. Meanwhile, the Trade segment generated adjusted pretax income of $20 million and adjusted earnings before interest, taxes, depreciation, and amortization of $53 million, compared with $17 million and $46 million, supported by improved fertilizer margins and operating efficiency.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $96.67 and a range between $90 and $110; the average is approximately 17.7% above the 52-week range high of $82.11, and the lowest target is also above that high. This range reflects elevated expectations for continued strength in Renewables and achievement of the $7 per share target by the end of 2028, but it leaves room for revaluation risk if ethanol margins decline or projects and regulatory approvals are delayed.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Revenue in Q2 fiscal 2026 was approximately $3.1 billion, gross profit was $223.7 million, and net income was $56.6 million. Diluted earnings per share were $1.65, while adjusted earnings per share were $2.15 compared with $0.24 in Q2 fiscal 2025. Gross profit increased by more than 40%, and adjusted earnings before interest, taxes, depreciation, and amortization reached $140 million from $65 million. Renewables led the improvement, alongside better fertilizer and merchandising performance in the Trade segment.
The ethanol plants achieved record production for Q2 fiscal 2026, with higher margins driven by domestic and export demand and co-product values. The segment's adjusted pretax income increased to $88 million from $10 million in Q2 fiscal 2025. Adjusted earnings before interest, taxes, depreciation, and amortization also increased to $103 million from $30 million. The results included $24 million in 45Z credits, along with improved corn oil prices and trading volumes.
The Andersons recorded $24 million in 45Z credits in Q2 fiscal 2026. Management expects the credits to total between $90 million and $100 million during fiscal 2026, with quarterly variation typically not exceeding a few million dollars. The company expects Q2 and Q3 to be slightly lower, and Q1 and Q4 to be slightly higher due to the timing of maintenance activities. The company is also investing in reducing ethanol's carbon intensity to increase opportunities to generate credits in the future.
The segment's adjusted pretax income was $20 million in Q2 fiscal 2026, compared with $17 million in the same period. Adjusted earnings before interest, taxes, depreciation, and amortization increased to $53 million from $46 million. The fertilizer business benefited from improved operating efficiency, margins, and risk management during the primary application season, while commodity price volatility created additional merchandising opportunities. Meanwhile, market conditions limited space income, and drought in the western Corn Belt remained a risk to crop volumes.
Management is targeting annual run-rate earnings of $7 per share by the end of 2028, after exceeding $6 during the twelve-month period referenced in the August 4, 2026 call. The company is working to increase ethanol production and reduce its carbon intensity, while the Class VI well permit at the Clymers facility continues through regulatory review. The grain elevator upgrades in Houston have been completed, and the soybean meal export portion is planned to be fully operational in Q4 fiscal 2026. Capital expenditures were $76 million in Q2 fiscal 2026, with approximately $225 million expected for fiscal 2026, excluding acquisitions.
A significant portion of the current improvement depends on Renewables, which recorded $88 million in adjusted pretax income in Q2 fiscal 2026. Management noted declining theoretical crush margins, competition from Brazilian ethanol, and corn price volatility, which could pressure margins. In Trade, drought in Skyland and the western Corn Belt threatens crop volumes, while global fertilizer supplies and farm economics affect demand. The 45Z credits, the Clymers permit, and the enactment of year-round E15 also remain dependent on policy or regulatory approvals.
