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The Andersons, Inc (ANDE) Cuts Guidance For 2008
The Andersons, Inc, just announced that it expects its earnings for 2008 to be a good deal lower than previously expected. The company had originally forecast earnings in the range of $3.50 to $4.00 per diluted share. Now, they are expected to be in the range of $2.00 to $2.80 per diluted share.
Here are some further comments from the company:
The current guidance adjustment is the result of continued volatility in the plant nutrient sector which has driven previous guidance adjustments both upward and downward during the course of the year. Although volatility is inherent to the commodities markets, the current unpredictability in plant nutrient product valuation is at unprecedented levels. For that reason, we have widened our range beyond our normal levels, and there remains the potential for additional guidance adjustments in the weeks ahead. — MSN MoneyCentral
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