Shares of Andersons (ANDE) tumbled 6% in after-hours trading on Monday following the release of the company's second-quarter earnings report, which fell significantly short of analyst expectations. The agricultural company reported adjusted earnings per share of $0.24, well below the consensus estimate of $0.53, overshadowing the news of its recent acquisition.

The earnings miss represents a substantial decline from the same period last year when Andersons posted earnings of $1.15 per share, marking a 79.13% year-over-year decrease. Despite the earnings shortfall, the company's quarterly sales showed some strength, coming in at $3.136 billion, surpassing analyst projections of $2.864 billion and representing a 12.20% increase from the $2.795 billion reported in the same quarter last year. Andersons also reported a net income of $7.9 million for the quarter, with adjusted EBITDA reaching $65.2 million.

In separate news, Andersons announced it has acquired the remaining 49.9% ownership interest in Andersons Marathon Holdings LLC, gaining full control of the entity. While this strategic move could potentially benefit the company in the long term, investors seemed more focused on the immediate earnings disappointment. On a positive note, Andersons reported an uptick in ethanol board crush that occurred in July, which is expected to continue through the summer driving season, potentially providing some support for the company's operations in the coming months.