Shares of Andersons (ANDE) tumbled 9.67% in after-hours trading on Monday following the release of the company's second-quarter earnings report, which fell short of analyst expectations. The agricultural company reported adjusted earnings per share of $0.24, significantly below the consensus estimate of $0.53.

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. The company noted an uptick in ethanol board crush that occurred in July, which is expected to continue through the summer driving season. However, this positive outlook was not enough to offset investor concerns about the earnings miss, leading to the sharp decline in the stock price during after-hours trading.