Andersons gains in pre-market on revised full-year guidance
Shares of The Andersons Inc. (Nasdaq:ANDE) are up more than 10% in pre-market trading today after the company announced after Wednesday’s close its full-year earnings would top previous estimates. For the full year, the Maumee, Ohio-based agriculture and transportation company expects earnings per share between $5 and $5.40 per share, up from prior guidance of $4.40 to $4.80. Wall Street is expecting earnings per share of $4.61 for 2008. The company said the lifted guidance is due to its Plant Nutrient Group’s continued positive performance. The company will report its second-quarter earnings on Aug. 7.
Ahead of today’s opening, shares are at $46.60, up $4.44 from Wednesday’s close. The stock has ranged from $32.25 to $52.67 during the past year.
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