The Andersons, Inc. (NASDAQ:ANDE) Q4 2022 Earnings Conference Call February 15, 2023 11:00 AM ET

Company Participants

Mike Hoelter - Vice President, Corporate Controller and Investor Relations

Pat Bowe - President and Chief Executive Officer

Brian Valentine - Executive Vice President and Chief Financial Officer

Conference Call Participants

Ben Bienvenu - Stephens Inc

Eric Larson - Seaport Research Partners

Operator

Good morning. And welcome to The Andersons Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded today. I will now like to turn the conference over to Mike Hoelter, Vice President, Corporate Controller and Investor Relations. Please go ahead, sir.

Mike Hoelter

Thanks, Joe. Good morning, everyone, and thank you for joining us for The Andersons fourth quarter earnings call. We have provided a slide presentation that will enhance today's discussion. If you are viewing this presentation on our webcast, the slides and commentary will be in sync. This webcast is being recorded, and the recording and the supporting slides will be made available on the Investors page of our website at andersonsinc.com shortly.

Please direct your attention to the disclosure statement on Slide 2 of the presentation as well as the disclaimers in the press release related to forward-looking statements. Certain information discussed today constitutes forward-looking statements that reflect the company's current views with respect to future events, financial performance and industry conditions. These forward-looking statements are subject to various risks and uncertainties.

Actual results could differ materially as a result of many factors which are described in the company's reports on file with the SEC. We encourage you to review these factors. This presentation and today's prepared remarks contain non-GAAP financial measures. Reconciliations of non-GAAP measures to the most directly comparable GAAP financial measure are included within the appendix of this presentation.

On the call with me today, Pat Bowe, President and Chief Executive Officer and Brian Valentine, Executive Vice President and Chief Financial Officer. After our prepared remarks, we will be happy to take your questions. I will now turn the call over to Pat.

Pat Bowe

Thanks Mike. And good morning, everyone. Thank you for your interest in The Andersons and for joining this call. We're excited to review our overall operating results for the fourth quarter, which kept a record year for us. As we noted in yesterday's earnings release, strong ag fundamentals existed in 2022. And our team's performance has once again been exceptional. We ended with full year record earnings and adjusted EBITDA from continuing operations of $412 million. As we previously set aggressive targets for EBITDA growth. And I'm pleased to say that we exceeded our 2025 goal of $375 million to $400 million of EBITDA three years early.