Andersons Raises Profit Bar

The Andersons (ANDE Quote) boosted its 2008 adjusted earnings guidance on strong food product and grain trading sales.

The Maumee, Ohio, ethanol giant says it now expects to post a full-year pro forma profit of somewhere in the range of $3.40 to $3.60 a share. That range is above the company's previous guidance for an adjusted profit of $3.15 to $3.35 offered last month.

Analysts had expected The Andersons to have total earnings of $3.33 a share, according to Yahoo! Finance.

"We are very excited about the way this year is shaping up for us, it is a tremendous performance by our team," said CEO Mike Anderson in a press release late Thursday

The Andersons shares rose $1.26, or 3%, to $42.10 in post-close trading Thursday.