ANDE — what changed in the latest 10-Q
A section-by-section comparison of ANDE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-04 vs the prior 10-Q · 2026-08-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +17 | −18 | ~37 | 16 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +1 | −1 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-04
The Agribusiness segment’s third quarter operating results showed improvement in a dynamic environment. The merchandising businesses showed the largest year-over-year improvement, driven by higher commodity prices and increased volatility. Grain asset performance was down compared to 2025 due to a l…
Weather delays have pushed harvest behind the five-year average, although activity typically accelerates quickly as conditions improve. As expected, yields varied significantly between eastern and western regions, with drought conditions in the west negatively affecting crop volumes and quality. Whi…
The Renewables segment delivered strong third quarter result, driven by efficient plant operations, higher co-product values and lower corn basis at our eastern plants. Although board crush margins were lower quarter-over-quarter, overall plant profitability improved. Third quarter results include $…
Three months ended September 30,Nine months ended September 30,
Operating, administrative and general expenses decreased by $12.4 million, primarily driven by the Company's ongoing portfolio optimization efforts, as well as asset impairments recorded in the prior year.
Text removed vs the prior filing · source: 10-Q · 2026-08-04
The Agribusiness segment’s second quarter operating results showed a modest improvement in a dynamic and challenging environment. The Company's fertilizer business led the improvement with higher margins on lower volumes. The merchandising results also improved, driven by higher commodity prices and…
The Company is continuing to monitor growing conditions and crop progress. Currently, the eastern corn belt has experienced favorable growing conditions, which could support harvest volumes and grain ownership opportunities this fall. Drier conditions in western production regions could pressure gra…
The Renewables segment achieved its highest second quarter results to date on efficient plant operations and improved margins. Strong ethanol export demand and healthy domestic consumption drove higher board crush margins year-over-year, partially offset by firmer corn basis levels. Second quarter r…
Operating, administrative and general expenses increased by $8.1 million, primarily driven by increased incentives from the Company's strong operating performance.
Operating, administrative and general expenses increased by $25.1 million, primarily due to a $10.6 million impairment charge related to capitalized engineering and design costs, $11.6 million of additional litigation expenses associated with the receivership of a former consolidated subsidiary, and…
Other information
Text added vs the prior filing · source: 10-Q · 2026-11-04
On November 3, 2026, the Company entered into agreements with certain of its executive officers to amend and restate its Change in Control Severance Policy (the "Policy"). The amendment increased the severance benefit period, outside of a change in control, applicable to William E. Krueger, Presiden…
Text removed vs the prior filing · source: 10-Q · 2026-08-04
On May 20, 2026, Brian K. Walz, Senior Vice President & Treasurer, entered into a Rule 10b5-1 plan to sell up to 5,950 shares of the Company's common stock, based on certain price parameters, from August 20, 2026, to August 20, 2027.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice