The Andersons Inc. reported third quarter 2025 revenues of $689.0 million in its Renewables segment, compared to $745.0 million in the same period last year. Gross profit in Renewables was $44.0 million, down from $58.0 million in Q3 2024, while pretax income stood at $43.0 million versus $50.0 million a year prior. Company-wide adjusted EBITDA for Q3 2025 was $78.0 million, compared to $97.0 million in Q3 2024. Diluted earnings per share for the quarter were $0.59, with adjusted EPS at $0.84. Key business developments included the completion of the wheat harvest with higher-than-expected volumes, a record corn harvest underway, and the acquisition of full ownership of ethanol plants. The company also positioned its ethanol plants to achieve 45Z tax credits and reported improved distillers corn oil prices, although dried distillers grain values remained challenged. Short-term debt increased due to acquisitions, while readily marketable inventories continued to significantly exceed short-term debt.