Filing Flows › Andersons (ANDE) › Q3 2025
Andersons (ANDE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Andersons (ANDE) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), +2% from a year earlier and -15% from the quarter before. Operating margin was 1.0%, net earnings $20.1M (0.8% of revenue).
Andersons, Q3 2025: revenue $2.7B (+2% year over year), operating margin 1.0%, net earnings $20.1M, operating cash flow $234M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | -15% | +2% |
| Gross profit | $171M | +8% | -4% |
| Operating profit | $25.8M | +4% | -58% |
| Net earnings | $20.1M | +156% | -26% |
| Operating cash flow | $234M | -22% | — |
| Free cash flow | $167M | -33% | — |
What changed
Revenue was $2.7B in Q3 2025, up 2% year over year and down 15% from the previous quarter.
Gross margin was 6.4%, down 0.4 points from a year earlier. Operating profit was $0.03B, a 1.0% margin (down 1.4 points year over year). Operating profit fell $0.04B even though revenue rose $0.06B versus a year earlier, so costs grew faster than sales. Operating expenses grew 26% against revenue growth of 2%. Net earnings were $0.02B, down 26% year over year. The effective tax rate was -0.9%.
Operating cash flow was $0.23B, 897% of net income including minority interests. Non-cash charges added back $0.03B of depreciation and amortization. Working capital and other items added $0.18B. Capital expenditures of $0.07B left free cash flow of $0.17B.
Questions
What was Andersons' revenue in the third quarter 2025?
Andersons (ANDE) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), +2% from a year earlier and -15% from the quarter before.
Was Andersons profitable in the third quarter 2025?
Operating profit was $25.8M (1.0% of revenue) and net earnings $20.1M.
Source: Andersons 10-Q on SEC EDGAR.