Agribiz Making It Rain
Gangbuster earnings flooded the agribusiness world over the past two weeks.
We thought we’d skim the surface of a few more earnings reports that went live the past few days:
The Andersons: Trade for days and commodity price volatility made big gains for the agribusiness. Adjusted EBITDA boomeranged seven-fold, leaving 2020’s rough results in the dust. Magically-reappearing margins in ethanol also bumped earnings in the right direction.
CNH: The ag division and powertrain business powered revenue growth to a 37% leap over 2020 results. Again, commodity prices sure didn’t hurt the income statement.
Like most equipment makers, supply chain constraints on steel and freight have punched cost performance in the face. But overall, the order book is on overdrive.
Tyson: Operating income saw a 32% spike in the first half of fiscal 2021 for the global protein leader. The Beef and Prepared Foods segment led the charge with solid margin growth.
Next on the docket is a full recovery of the Chicken business to launch results higher in the second half of the year.