The Andersons, Inc. (ANDE) saw its stock surge 10.67% in after-hours trading on Tuesday following the release of its fourth quarter and full year 2024 results. The diversified agribusiness and renewables company reported impressive financial performance and provided an optimistic outlook for 2025.

Here are the key highlights from ANDE's Q4 and full year 2024 results:

- Q4 2024 net income attributable to ANDE was $45.1 million, or $1.31 per diluted share, compared to $51.2 million, or $1.49 per diluted share, in Q4 2023. For the full year 2024, net income was $114.0 million, or $3.32 per diluted share, up from $101.2 million, or $2.94 per diluted share, in 2023.

- Adjusted net income attributable to ANDE was $46.9 million, or $1.36 per diluted share, in Q4 2024, compared to $54.6 million, or $1.59 per diluted share, in Q4 2023. For the full year 2024, adjusted net income was $116.7 million, or $3.40 per diluted share, compared to $118.3 million, or $3.44 per diluted share, in 2023.

- ANDE reported record Q4 pretax income of $54 million in its Trade segment, driven by solid elevation margins and space income on an early and robust harvest. The Renewables segment generated pretax income of $25 million, supported by efficient plant performance and solid merchandising.

- ANDE ended the year with a strong balance sheet, with a cash balance of $562 million and a long-term debt to adjusted EBITDA ratio of 1.8 times, well below its stated target of 2.5 times.

Looking ahead, ANDE expects continued regulatory and geopolitical uncertainties coupled with potentially challenging agricultural economics, but also sees signs of opportunity. The company anticipates a significant increase in planted corn acres and continuing strong ethanol exports, positioning its agribusiness and ethanol production assets well for growth.