Andersons Raises Profit Bar

Ethanol outfit sees strength in its food and grain trading units.
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The Andersons

(ANDE) - Get Report

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.