The Andersons Boosts Guidance

The company sees earnings well above prior expectations.
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The Andersons (ANDE) - Get Report now expects 2005 full-year earnings to exceed $3 a share, well above the range it had expected to beat just a month ago.

In December, the agriculture and rail-car concern said it anticipated that 2005 earnings would surpass the upper end of its previously projected range of $2.20 to $2.50 a share.

In 2004, the company earned $2.55 per diluted share.

In a press statement released Thursday, President and Chief Executive Officer Mike Anderson said, "Our fourth-quarter earnings are proving to be even stronger than we thought as recently as a month ago. Exceptionally strong fourth quarter performances in our grain and rail businesses and better than anticipated results in our plant nutrient and retail businesses have been the catalysts for the earnings improvement."

The Andersons closed Thursday up $1.06, or 2.5%, to $43.93.