Agreement modernizes training to build specialized skills required for large-scale reactors and SMRs

RESTON, Va., May 5, 2026 /PRNewswire/ — Bechtel and North America’s Building Trades Unions (NABTU) today announced a Memorandum of Understanding (MOU) to advance and modernize apprenticeship programs supporting the construction of a new generation of U.S. nuclear power plants.

The agreement reflects a strategic alignment between one of the world’s most experienced builders of nuclear infrastructure and North America’s largest federation of skilled construction unions. Together, the organizations will strengthen apprenticeship pathways and expand specialized training to develop the craft expertise and quality standards required to deliver nuclear projects.

Through this partnership, Bechtel and NABTU will work together to ensure apprenticeship programs continue to evolve to meet the scale of resources needed as well as the technical requirements of modern nuclear construction.

Under the agreement, Bechtel and NABTU will:

  • Identify the specialized craft capabilities required for nuclear construction and align apprenticeship training accordingly
  • Collaborate with union training centers to modernize curricula supporting nuclear construction methods and technologies
  • Coordinate recruitment through union networks to expand pathways into high-skill careers building large reactors and SMRs

Brendan Bechtel, Chair and CEO of Bechtel, said: “Delivering nuclear power plants requires exceptional craft expertise and a deep commitment to safety and quality. Bechtel’s long-standing partnership with NABTU has helped build some of the most complex energy infrastructure in the United States, including Vogtle Units 3 and 4, the first new nuclear reactors built in the country in more than three decades. Today, we’re continuing that work on next-generation technologies like the Natrium Demonstration Project, which represents a new era of nuclear innovation. This agreement strengthens our collaboration with NABTU and ensures apprenticeship programs continue to develop the number of craft professionals needed to supply this growing market as well as passes on the specialized knowledge and skills required to safely deliver these projects.”

Sean McGarvey, President of NABTU, said“Building the next generation of nuclear projects requires the highest levels of skill, precision, and safety, and that starts with NABTU’s world-class apprenticeship training and strong contractor partners like Bechtel. This agreement ensures a continuous pipeline of highly skilled, job-ready craft professionals to build nuclear power’s next fleet of reactors. For project owners, that means no labor shortage risk when projects are built under building trades agreements with access to NABTU’s union construction workforce. Workforce availability is not a constraint, and projects can be delivered safely, efficiently, and with certainty.”

For more than a century, Bechtel and the building trades have partnered to deliver some of the world’s most complex infrastructure projects. Most recently, Bechtel and NABTU-affiliated craft professionals worked together to deliver the expansion of Vogtle, and today, are advancing construction on the Natrium Demonstration project in Kemmerer, Wyoming — America’s first utility-scale advanced nuclear project.

As the United States advances a new generation of nuclear projects, apprenticeships will remain central to developing the skilled craft workforce capable of delivering them.

To learn more about this partnership, visit Bechtel.com.

Contact: Ashley Accardo, aaccardo@bechtel.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/bechtel-and-nabtu-partner-to-advance-nuclear-construction-apprenticeships-302763273.html

SOURCE Bechtel

How can innovative nature finance structures improve traditional working forest models, strengthening long-term resilience while delivering conservation, climate, and community benefits?

The unique blended finance structure behind the Cumberland Forest Project—one of The Nature Conservancy’s largest conservation projects in the eastern United States—demonstrates what is possible with impact-driven timberland investments. Established in 2018, the Cumberland Forest Project manages 253,000 acres of working forest across Kentucky, Tennessee and Virginia to deliver conservation and community benefits alongside financial returns.

The result is a scalable model for investing in nature, one that aims to aligns conservation and community outcomes with asset performance.

Learn how innovative finance can unlock better outcomes for nature and communities, and why the Cumberland Forest Project is a leading example of nature-based investing in action.

To go deeper into the why and how behind this work, explore the Cumberland Forest Project’s 2025 Impact Report and hear project director Greg Meade share insights on the Forest Invest podcast.

MAUMEE, Ohio, May 5, 2026 /PRNewswire/ — The Andersons, Inc. (Nasdaq: ANDE) announces financial results for the first quarter ended March 31, 2026.

Financial Highlights:

  • Reported record first quarter net income attributable to The Andersons of $33 million or $0.97 per diluted share and adjusted net income attributable of $38 million, or $1.12 per diluted share
  • Adjusted EBITDA of $91 million
  • Renewables first quarter pretax income was $40 million on record production, strong merchandising, and biofuels policy benefits
  • Agribusiness recorded pretax income of $7 million and adjusted pretax income attributable to The Andersons of $18 million on resilient merchandising and improving conditions

“Our record first quarter includes outstanding results in Renewables and year-over-year improvement in Agribusiness. Ethanol margins were solid during the quarter on increased demand and higher gasoline prices. Our renewable feedstock business had a strong quarter as values and volumes improved following the finalization of the Required Volume Obligations (RVO). Our plants set another quarterly record for production, and we were able to qualify for a higher tier of 45Z tax credits. Fundamentals for this business remain positive,” said President and CEO Bill Krueger. “In Agribusiness, with the return of some market volatility, our merchandising businesses had a solid quarter. Results from our premium ingredients business more than doubled the prior year, as we are focused on serving our key CPG customers. Our fertilizer business also improved, as we strategically positioned product in anticipation of spring planting.”

“We continue to evaluate capital deployment to drive growth and expansion of our existing assets, make our operations more efficient, while analyzing potential acquisitions.  We are on track to complete several capital investments during 2026, including the addition of soybean meal export capacity at Port Houston, the replacement and modernization of grain storage at our Toledo port assets, and several corn and wheat cleaning projects within our current asset footprint. Our Clymers, Indiana ethanol debottlenecking project, announced in December of last year, is in the early stages and progressing as planned. We expect the project to increase the plant’s annual production capacity to approximately 170 million gallons upon completion. We are evaluating additional ethanol, premium ingredients, and other projects to drive further profitable growth as we remain focused on achieving the $7.00 run-rate EPS target exiting 2028, as announced in December at our Investor Day,” continued Krueger.

$ in millions, except per share amounts     

YTD 2026

YTD 2025

Variance

Pretax Income

$      33.9

$       3.2

$      30.7

Pretax Income (loss) Attributable to the Company1

37.7

(1.8)

39.5

Adjusted Pretax Income Attributable to the Company1

44.4

3.2

41.2

     Agribusiness1

17.9

(0.1)

18.0

     Renewables

39.6

15.3

24.3

     Other1

(13.1)

(12.0)

(1.1)

Net Income Attributable to the Company

33.2

0.3

32.9

Adjusted Net Income Attributable to the Company1

38.2

4.1

34.1

Diluted Earnings Per Share (“EPS”)

0.97

0.01

0.96

Adjusted EPS1

1.12

0.12

1.00

EBITDA1

84.8

50.6

34.2

Adjusted EBITDA1

$      91.5

$      57.3

$      34.2

1 Non-GAAP financial measures; see appendix for explanations and reconciliations.

Cash, Liquidity, and Long-Term Debt Management

“Our businesses generated improved cash flows on strong earnings this quarter. We expect to continue to fund many of our growth projects internally and our debt remains at a modest level,” said Executive Vice President and CFO Brian Valentine. “We remain below our long-term debt to EBITDA target of less than 2.5 times and continue to be pleased with the strength of our balance sheet.”

Cash used in operating activities was $394 million and $350 million in the first quarter of 2026 and 2025, respectively. Cash from operations before working capital changes in the same periods was $68 million and $57 million, respectively. Cash spent on capital projects in the quarter totaled $52 million, as we continue to invest in our facilities and fund growth.

First Quarter Segment Overview

Agribusiness Posts Improved First Quarter on Earnings Resilience

Agribusiness recorded pretax income of $7 million and adjusted pretax income attributable to the company of $18 million for the quarter, compared to a pretax loss of $10 million and break even adjusted pretax income in the first quarter of 2025.

Our diversified portfolio showed the resilience of our earnings as we saw more volatility return to the market this quarter. As prices rallied during the quarter, more old crop bushels came to market, which provided opportunities for our merchandising businesses. Our grain asset footprint saw less basis appreciation than expected as the price rally put pressure on basis values. Fertilizer results improved on higher margins.

Market conditions remain dynamic. There is the potential of continued volatility that will provide opportunities through 2026. We will remain nimble as conditions change. If the volatility continues, more opportunities should shift to our merchandising businesses. We expect our asset footprint, especially in the west, to capture some of the delayed basis appreciation over the next few quarters. Anticipated corn plantings are above the five-year average with expanded margin opportunities in this higher priced environment. Our fertilizer business is well positioned heading into Q2 and the application season for planting.

Agribusiness had adjusted first quarter EBITDA of $49 million, compared to $31 million in 2025.

Renewables Reports Record Quarter on Efficient Operations and Strong Demand

The Renewables segment reported pretax income of $40 million in the first quarter. For the same period in 2025, the segment reported pretax income of $25 million and pretax income attributable to the company of $15 million.

The segment had a strong first quarter performance on efficient plant operations and record production. Ethanol demand drove board crush higher year over year but was offset by firmer corn basis and higher natural gas expense. First quarter results include $26 million of 45Z producer tax credits. As expected, each of our plants qualified for the next tier of credits following rule changes effective in 2026. Our merchandising businesses had improved performance, largely driven by volatility surrounding the RVO announcement, resulting in higher distillers corn oil and RIN values.

Ethanol fundamentals continue to be supportive as we anticipate elevated demand, including increasing global blend rates, high gasoline prices, and planned industry maintenance. Renewable feedstocks should also continue to benefit from the robust RVO.

Renewables had first quarter EBITDA of $54 million in 2026, compared to $37 million in 2025.

Income Taxes

The company recorded income tax expense of $4.6 million for the quarter, resulting in an effective tax rate of 14% for the period. The rate was impacted by non-taxable 45Z income. We anticipate a full-year adjusted effective rate of approximately 14% – 18%.

Conference Call

The company will host a webcast on Wednesday, May 6, 2026, at 8:30 a.m. ET, to discuss its performance and provide its outlook for the remainder of 2026. To access the call, please dial 888-317-6003 or 412-317-6061 (elite entry number is 7394049). It is recommended that you call 10 minutes before the conference call begins.

To access the webcast, click on the link: https://app.webinar.net/r9QEJNbJ2Mk and submit the requested information as directed. A replay of the call can also be accessed under the heading “Investors” on the company’s website at www.andersonsinc.com

Forward-Looking Statements

This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, geopolitical risk, and the risk factors set forth from time to time in the company’s filings with the Securities and Exchange Commission. Although the company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.

Non-GAAP Measures

This release contains non-GAAP financial measures. The company believes that pretax income (loss) attributable to the company; adjusted pretax income (loss) attributable to the company; adjusted pretax income (loss); adjusted net income attributable to the company; adjusted diluted earnings per share; earnings before interest, taxes, depreciation, and amortization (or EBITDA); adjusted EBITDA; and cash from operations before working capital changes provide additional information to investors and others about its operations, allowing an evaluation of underlying operating performance and liquidity and better period-to-period comparability. The above measures are not and should not be considered as alternatives to pretax income (loss) or income (loss) before income taxes, net income (loss), diluted earnings (loss) per share attributable to The Andersons, Inc. common shareholders and cash provided by (used in) operating activities as determined by generally accepted accounting principles. Reconciliations of the GAAP to non-GAAP measures may be found within this press release and the financial tables provided herein.

Company Description

The Andersons, Inc., is a North American agriculture and renewable fuels company. Guided by its Statement of Principles, The Andersons is committed to providing extraordinary service to its customers, helping its employees improve, supporting its communities, and increasing the value of the company. For more information, please visit www.andersonsinc.com

The Andersons, Inc.

Condensed Consolidated Statements of Operations

(unaudited)

 

Three months ended
March 31,

(in thousands, except per share data)

2026

2025

Sales and merchandising revenues

$ 2,627,266

$ 2,659,098

Cost of sales and merchandising revenues

2,466,682

2,506,226

Gross profit

160,584

152,872

Operating, administrative and general expenses

144,664

145,754

Interest expense, net

16,838

13,096

Other income, net

34,810

9,191

Income before income taxes

33,892

3,213

Income tax provision (benefit)

4,560

(2,118)

Net income

29,332

5,331

Net (loss) income attributable to noncontrolling interests

(3,856)

5,047

Net income attributable to The Andersons, Inc.

$    33,188

$        284

Earnings per share attributable to The Andersons, Inc. common shareholders:

Basic earnings:

$       0.98

$       0.01

Diluted earnings:

$       0.97

$       0.01

 

The Andersons, Inc.

Condensed Consolidated Balance Sheets

(unaudited)

 

(in thousands)

March 31, 2026

December 31, 2025

March 31, 2025

Assets

Current assets:

  Cash and cash equivalents

$             72,398

$             98,283

$            219,219

  Accounts receivable, net

772,010

652,472

812,482

  Inventories

1,398,686

1,365,121

1,249,047

  Commodity derivative assets – current

161,858

135,466

155,028

  Other current assets

152,153

125,067

92,968

Total current assets

2,557,105

2,376,409

2,528,744

Property, plant and equipment, net

961,401

939,500

860,246

Other assets, net

401,670

396,923

408,692

Total assets

$          3,920,176

$          3,712,832

$          3,797,682

Liabilities and equity

Current liabilities:

  Short-term debt

$            716,519

$            249,420

$            222,691

  Trade and other payables

633,027

918,691

661,202

  Customer prepayments and deferred revenue

222,811

195,331

223,702

  Commodity derivative liabilities – current

67,682

51,153

69,648

  Current maturities of long-term debt

23,466

63,375

62,675

  Accrued expenses and other current liabilities

207,125

208,427

194,390

Total current liabilities

1,870,630

1,686,397

1,434,308

Long-term debt, less current maturities

569,063

560,016

588,087

Other long-term liabilities

170,638

176,184

180,853

Total liabilities

2,610,331

2,422,597

2,203,248

Total equity

1,309,845

1,290,235

1,594,434

Total liabilities and equity

$          3,920,176

$          3,712,832

$          3,797,682

 

The Andersons, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited)

 

Three months ended March 31,

 (in thousands)

2026

2025

Operating Activities

Net income

$          29,332

$           5,331

Adjustments to reconcile net income to cash used in operating activities:

Depreciation and amortization

34,112

34,340

Other

4,701

17,303

Changes in operating assets and liabilities:

Accounts receivable

(120,542)

(53,268)

Inventories

(34,986)

38,531

Commodity derivatives

(13,235)

1,076

Other current and non-current assets

(22,535)

(8,558)

Payables and other current and non-current liabilities

(270,522)

(384,775)

Net cash used in operating activities

(393,675)

(350,020)

Investing Activities

Purchases of property, plant and equipment and capitalized software

(51,712)

(46,548)

Other

2,248

2,717

Net cash used in investing activities

(49,464)

(43,831)

Financing Activities

Net proceeds under short-term lines of credit

467,584

56,044

Proceeds from issuance of long-term debt

86,250

14,700

Payments of long-term debt

(116,774)

(8,416)

Dividends paid

(6,846)

(6,693)

Value of shares withheld for taxes

(6,996)

(3,837)

Payments of debt issuance costs

(5,435)

Other

(1,353)

Net cash provided by financing activities

417,783

50,445

Effect of exchange rates on cash and cash equivalents

(529)

854

Decrease in cash and cash equivalents

(25,885)

(342,552)

Cash and cash equivalents at beginning of period

98,283

561,771

Cash and cash equivalents at end of period

$          72,398

$         219,219

 

The Andersons, Inc.

Adjusted Net Income Attributable to The Andersons, Inc.

A non-GAAP financial measure

(unaudited)

 

Three months ended
March 31,

(in thousands, except per share data)

2026

2025

Net income

$    29,332

$      5,331

Net (loss) income attributable to noncontrolling interests

(3,856)

5,047

Net income attributable to The Andersons, Inc.

33,188

284

Adjustments:

Legal settlement and related expenses

5,948

Transaction related compensation

1,792

2,103

Insured inventory and property (recoveries) damages, net

(1,108)

2,926

Income tax impact of adjustments1

(1,658)

(1,257)

Total adjusting items, net of tax

4,974

3,772

Adjusted net income attributable to The Andersons, Inc.

$    38,162

$      4,056

Diluted earnings per share attributable to The Andersons, Inc. common shareholders

$       0.97

$       0.01

Impact on diluted earnings per share

$       0.15

$       0.11

Adjusted diluted earnings per share

$       1.12

$       0.12

1 The income tax impact of adjustments is taken at the blended federal, state, and local tax rate of 25%.

Adjusted net income (loss) attributable to The Andersons, Inc. reflects reported net income (loss) available to The Andersons, Inc. common shareholders after the removal of specified items described above. Adjusted diluted earnings (loss) per share reflects the fully diluted EPS of The Andersons, Inc. after removal of the effect on EPS as reported of specified items described above. Management believes that Adjusted net income (loss) attributable to The Andersons, Inc. and Adjusted diluted earnings (loss) per share are useful measures of The Andersons, Inc. performance as they provide investors additional information about the operations of the company allowing better evaluation of underlying business performance and better comparability to previous periods. These non-GAAP financial measures are not intended to replace or be alternatives to Net income attributable to The Andersons, Inc. and Diluted earnings per share attributable to The Andersons, Inc. common shareholders as reported, the most directly comparable GAAP financial measures, or any other measures of operating results under GAAP. Earnings amounts described above have been divided by the company’s average number of diluted shares outstanding for each respective period in order to arrive at an adjusted diluted earnings (loss) per share amount for each specified item.

 

The Andersons, Inc.

Segment Data

(unaudited)

(in thousands)

Agribusiness

Renewables

Other

Total

Three months ended March 31, 2026

Sales and merchandising revenues

$   1,919,967

$    707,299

$          —

$  2,627,266

Cost of sales and merchandising revenues

1,786,061

680,621

2,466,682

Gross profit

133,906

26,678

160,584

Operating, administrative and general expenses

121,420

10,300

12,944

144,664

Interest expense, net

13,688

3,059

91

16,838

Other income (loss), net

8,607

26,272

(69)

34,810

Income (loss) before income taxes

7,405

39,591

(13,104)

33,892

Loss attributable to noncontrolling interests

(3,856)

(3,856)

Income (loss) before income taxes attributable to The Andersons, Inc.1

$      11,261

$     39,591

$    (13,104)

$     37,748

Adjustments to income before income taxes2

6,632

6,632

Adjusted income (loss) before income taxes attributable to The Andersons, Inc.1

$      17,893

$     39,591

$    (13,104)

$     44,380

Three months ended March 31, 2025

Sales and merchandising revenues

$   1,993,287

$    665,811

$          —

$  2,659,098

Cost of sales and merchandising revenues

1,874,689

631,537

2,506,226

Gross profit

118,598

34,274

152,872

Operating, administrative and general expenses

124,489

9,783

11,482

145,754

Interest expense (income), net

12,826

698

(428)

13,096

Other income (loss), net

9,041

1,088

(938)

9,191

(Loss) income before income taxes

(9,676)

24,881

(11,992)

3,213

(Loss) income attributable to noncontrolling interests

(4,522)

9,569

5,047

(Loss) income before income taxes attributable to The Andersons, Inc.1

$      (5,154)

$     15,312

$    (11,992)

$      (1,834)

Adjustments to income before income taxes2

5,029

5,029

Adjusted (loss) income before income taxes attributable to The Andersons, Inc.1

$        (125)

$     15,312

$    (11,992)

$       3,195

1 Income (loss) before income taxes attributable to The Andersons, Inc. for each operating segment is defined as net sales and merchandising revenues plus identifiable other income less all identifiable operating expenses, including interest expense for carrying working capital and long-term assets and is reported net of the noncontrolling interest share of income.

2 Additional information on the individual adjustments that are included in the adjustments to income (loss) before income taxes can be found in the Reconciliation to EBITDA and Adjusted EBITDA table. All adjustments are consistent with the EBITDA reconciliation with the exception of items where a portion of the expense is attributable to the noncontrolling interest and is represented in Income attributable to the noncontrolling interest within the reconciliation above. These adjustments include a $1.6 million difference in insured inventory and property damages, net in the Agribusiness segment for the three months ended March 31, 2025.

 

The Andersons, Inc.

Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)

A non-GAAP financial measure

(unaudited)

 

(in thousands)

Agribusiness

Renewables

Other

Total

Three months ended March 31, 2026

Net income (loss)

$       7,405

$     39,591

$    (17,664)

$     29,332

Interest expense

13,688

3,059

91

16,838

Tax provision

4,560

4,560

Depreciation and amortization

21,490

11,767

855

34,112

EBITDA

42,583

54,417

(12,158)

84,842

Adjusting items impacting EBITDA:

Legal settlement and related expenses

5,948

5,948

Transaction related compensation

1,792

1,792

Insured inventory and property recoveries, net

(1,108)

(1,108)

Total adjusting items

6,632

6,632

Adjusted EBITDA

$      49,215

$     54,417

$    (12,158)

$     91,474

Three months ended March 31, 2025

Net (loss) income

$      (9,676)

$     24,881

$      (9,874)

$       5,331

Interest expense (income)

12,826

698

(428)

13,096

Tax benefit

(2,118)

(2,118)

Depreciation and amortization

21,685

11,891

764

34,340

EBITDA

24,835

37,470

(11,656)

50,649

Adjusting items impacting EBITDA:

Transaction related compensation

2,103

2,103

Insured inventory and property damages, net

4,502

4,502

Total adjusting items

6,605

6,605

Adjusted EBITDA

$      31,440

$     37,470

$    (11,656)

$     57,254

Adjusted EBITDA is defined as earnings before interest, taxes and depreciation and amortization, adjusted for specified items. The company calculates adjusted EBITDA by removing the impact of specified items and adding back the amounts of interest expense, tax expense and depreciation and amortization to net income (loss). Management believes that adjusted EBITDA is a useful measure of the company’s performance as it provides investors additional information about the company’s operations allowing better evaluation of underlying business performance and improved comparability to prior periods. Adjusted EBITDA is a non-GAAP financial measure and is not intended to replace or be an alternative to net income (loss), the most directly comparable GAAP financial measure.

 

The Andersons, Inc.

Trailing Twelve Months of EBITDA and Adjusted EBITDA

A non-GAAP financial measure

(unaudited)

 

Three Months Ended,

 Twelve months
ended March
 31,
2026

(in thousands)

June 30,
2025

September 30,
2025

December 31,
2025

March 31,
2026

Net income

$     16,807

$     26,071

$     71,092

$     29,332

$          143,302

Interest expense

11,495

10,478

12,090

16,838

50,901

Tax provision (benefit)

8,028

(228)

16,486

4,560

28,846

Depreciation and amortization

33,071

32,647

33,265

34,112

133,095

EBITDA

69,401

68,968

132,933

84,842

356,144

Adjusting items impacting EBITDA:

Legal settlement and related expenses

5,948

5,948

Transaction related compensation

1,768

1,712

1,879

1,792

7,151

Insured inventory and property recoveries, net

(11,162)

(11,887)

(72)

(1,108)

(24,229)

Loss on investments

7,178

7,178

Severance expense

1,197

1,480

2,677

(Gain) loss on sale of businesses, net

(3,190)

(1,567)

310

(4,447)

Acquisition costs

5,927

5,927

Asset impairment

13,698

13,698

Pension settlement

1,448

1,448

Total adjusting items

(4,209)

9,331

3,597

6,632

15,351

Adjusted EBITDA

$     65,192

$     78,299

$    136,530

$     91,474

$          371,495

Three Months Ended,

Twelve months
ended March
 31,
2025

June 30,
2024

September 30,
2024

December 31,
2024

March 31,
2025

Net income

$     52,470

$     51,461

$     54,104

$       5,331

$          163,366

Interest expense

6,611

8,361

10,266

13,096

38,334

Tax provision (benefit)

4,876

10,731

13,146

(2,118)

26,635

Depreciation and amortization

30,269

30,408

36,178

34,340

131,195

EBITDA

94,226

100,961

113,694

50,649

359,530

Adjusting items impacting EBITDA:

Transaction related compensation

4,049

1,668

2,536

2,103

10,356

Acquisition costs

3,193

3,193

Insured inventory and property (recoveries) damages, net

(5,204)

(4,446)

4,502

(5,148)

Loss on investments

1,535

1,535

Total adjusting items

4,049

(3,536)

2,818

6,605

9,936

Adjusted EBITDA

$     98,275

$     97,425

$    116,512

$     57,254

$          369,466

 

The Andersons, Inc.

Cash from Operations Before Working Capital Changes

A non-GAAP financial measure

(unaudited)

 

Three months ended
March 31,

(in thousands)

2026

2025

Cash used in operating activities

$ (393,675)

$ (350,020)

Changes in operating assets and liabilities

Accounts receivable

(120,542)

(53,268)

Inventories

(34,986)

38,531

Commodity derivatives

(13,235)

1,076

Other current and non-current assets

(22,535)

(8,558)

Payables and other current and non-current liabilities

(270,522)

(384,775)

Total changes in operating assets and liabilities

(461,820)

(406,994)

Cash from operations before working capital changes

$   68,145

$   56,974

Cash from operations before working capital changes is defined as cash provided by (used in) operating activities before the impact of changes in working capital within the statement of cash flows. The Company calculates cash from operations by eliminating the effect of changes in accounts receivable, inventories, commodity derivatives, other assets, and payables and accrued expenses from the cash provided by (used in) operating activities. Management believes that cash from operations before working capital changes is a useful measure of the company’s performance as it provides investors additional information about the company’s operations allowing better evaluation of underlying business performance and improved comparability to prior periods. Cash from operations before working capital changes is a non-GAAP financial measure and is not intended to replace or be an alternative to cash provided by (used in) operating activities, the most directly comparable GAAP financial measure.

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SOURCE The Andersons, Inc.

May 5, 2026 /3BL/ – Medtronic has been named to TIME’s 2026 TIME100 Companies list in the Health category for the Hugo™ robotic‑assisted surgery (RAS) system and Touch Surgery™ ecosystem.

More than half of soft-tissue surgeries globally still require open incisions, and only a small percentage are performed using robotic assistance. Medtronic is working to help shift that with its Hugo™ RAS system, which received FDA clearance in December 2025 for use in urologic surgical procedures. Designed with modular, cart‑mounted arms and an open console, Hugo enables surgeons to operate through small incisions while remaining connected to the patient and operating room team. The platform is paired with Touch Surgery™ ecosystem, an AI‑enabled solution that records and analyzes surgical videos to support learning, post-operative surgery review, and remote surgeon proctoring.

Hugo has been used in tens of thousands of procedures in hospitals across more than 35 countries, building upon Medtronic’s worldwide surgical leadership in open and laparoscopic modalities. “Being recognized by TIME underscores why advancing surgery matters — robotic technologies and digital solutions are expanding access to the benefits of minimally invasive care to patients around the world,” said Matt Anderson, senior vice president and president, Surgical at Medtronic. “Surgery is often a life-changing experience for patients and their families. We remain steadfast in our commitment to ensuring every patient has access to the best possible outcomes and are grateful for the trust surgeons and OR teams place in Medtronic.”

The Medtronic Hugo™ RAS system is commercially available in certain geographies, subject to local regulatory approvals and indications for use.

About TIME100
TIME100 Companies: Industry Leaders is an expansion of the TIME100 Most Influential Companies award that dives deeper into 20 sectors to look at companies sharing their industries. Since 2021, the TIME100 Most Influential Companies list has recognized organizations shaping the future. Each year, TIME editors, correspondents, and trusted experts select companies whose impact, innovation, ambition, and success sets new standards for the world.

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow on LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

Contacts:
Justin Paquette
Public Relations
+1-612-271-7935

Ingrid Goldberg
Investor Relations
+1-763-505-2696

  • The Rocsys S2 is the second generation of the company’s rugged, purpose-built solution for heavy-duty electric fleets operating in demanding environments
  • The system integrates into existing site infrastructure and delivers precise plug-ins across mixed fleets through flexible arm movement and extended reach
  • The S2 is commercially available now for ports, distribution centers and other logistics facilities, with the first orders already secured

RIJSWIJK, Netherlands and PORTLAND, Ore., May 5, 2026 /PRNewswire/ — Rocsys, the global leader in hands-free charging for electric and autonomous vehicles, today launched the S2, its next-generation hands-free charging solution for heavy-duty electric vehicles operating in demanding environments. Part of Rocsys’ expanding portfolio of stewards, including the recently unveiled M1, the S2 is now available to order for ports, distribution hubs and other logistics facilities.

Rocsys S2 (PRNewsfoto/Rocsys)

Rocsys has delivered its first S2 to a large-scale port customer, marking the solution’s move into active customer deployment. For American organizations with domestic sourcing requirements, Rocsys can provide configurations that support Build America, Buy America compliance.

As heavy-duty electric fleets scale, charging operations need to keep vehicles ready without adding complexity to already demanding site workflows. In ports, terminals and logistics hubs, repeated plug-in tasks must be coordinated across shifts, vehicle types, chargers, weather conditions and tight operating schedules. Rocsys S2 is designed to make that process more consistent, predictable and easier to integrate into day-to-day operations, delivering higher utilization, tighter coordination and safer day-to-day performance.

Drawing on the field-validated success and learnings of Rocsys’ previous generation, ROC-1, the S2 delivers a smaller footprint, simpler installation, greater range of motion and enhanced durability for outdoor operation in tough conditions. Trained on more than six years of Rocsys field experience, including ROC-1 deployments in Europe and North America, the Rocsys S2 is engineered for maximum reliability in live operations, keeping vehicles charged and ready whenever they’re needed, even in the most challenging work situations.

S2 is available in two configurations. The standard S2 is intended for general fleet environments, while the S2-H heavy-duty version adds more protective features, including enhanced coating, beacon lighting and reflectors, for harsher industrial settings. IP-rated components, adaptable force absorption, and a 7-motor controller architecture support safe, consistent, and predictable performance.

Using computer vision and motion intelligence, the S2 identifies the position and orientation of a vehicle’s charging inlet with sub-millimeter precision and adapts in real time to variations in parking position and site conditions, including rain, dust, shadows and low light. The result is a 99.9% plug-in success rate and continuous improvement through machine learning, making it well-suited to high-throughput operations where consistency and uptime are key.

The S2 supports multi-vendor interoperability across mixed fleets and charger types. Vehicle-to-steward communication is enabled by the in-house-designed Rocsys Smart Cover, which allows any vehicle to connect with any steward via Ultra-Wideband (UWB). The arm’s flexible motion and wide vertical work range accommodate different vehicle geometries and parking variations, while the reduced footprint and easy-to-deploy design simplify integration into existing sites with minimal or no civil work.

Part of the Rocsys Platform, a complete ecosystem combining hardware, software, and remote and onsite services, the S2 can also be integrated with fleet management and terminal systems via APIs, giving operators greater visibility and control over charging operations.

Rocsys is showcasing the S2 at ACT Expo in Las Vegas, May 4-6, and at TOC Europe in Hamburg, Germany, May 19-21. See the S2 in action here.

Crijn Bouman, CEO and Co-Founder of Rocsys, said: “Rocsys S2 brings our hands-free charging technology into its next commercial phase. Heavy-duty electric fleets need charging infrastructure that works reliably in real operating conditions, across mixed vehicles, chargers and site layouts. Built on more than six years of field experience, S2 gives customers a practical way to add hands-free charging to existing operations and keep vehicles ready when they are needed.”

About Rocsys

Rocsys is the global leader in hands-free charging and fleet service solutions for electric and autonomous vehicles. The company’s cutting-edge technology, including next generation soft robotics, computer vision, and data-driven proactive services, unlocks greater efficiency, safety, and scalability for the world’s leading ports operators, logistics companies and robotaxis. With operations in Europe and the United States, Rocsys plays a leading role in shaping standards that will unify a powerful EV ecosystem through industry consortiums and strategic partnerships with multinational corporations and OEMs. For more information, visit www.rocsys.com.

Photo – https://mma.prnewswire.com/media/2973031/Rocsys_S2_Ports.jpg
Logo – https://mma.prnewswire.com/media/2969002/5954363/Rocsys_Logo.jpg

Rocsys Logo (PRNewsfoto/Rocsys)

 

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SOURCE Rocsys

Proceeds benefit the Dave Thomas Foundation for Adoption

DUBLIN, Ohio, May 5, 2026 /PRNewswire/ — 

WHAT: Did you know May is National Foster Care Month? This month recognizes the 365,000+ children and youth in foster care while raising awareness about foster care and celebrating the members of our community who help find permanent homes for children in foster care. To celebrate, Wendy’s® is partnering with Round It Up America® to deliver an easy way to make a difference. The Round Up for Adoption program invites Wendy’s guests to round up their order* to the nearest dollar at checkout – a quick, easy donation that helps find forever families for children in foster care.

Proceeds from the Round Up program will benefit Wendy’s signature cause, the Dave Thomas Foundation for Adoption® and its commitment to find safe, loving and permanent homes for children waiting in foster care.

WHERE & WHEN: Wendy’s guests can round up their orders at the register at participating U.S. Wendy’s locations. Fans can use the Wendy’s store locator and visit their local restaurant to ask if they’re currently offering the Round Up for Adoption program.

HOW: Simply head to a participating Wendy’s restaurant, place an order at the counter and the crew member will ask about rounding up to the nearest dollar. One small act of kindness makes a biggie difference.

WHY: The Round Up for Adoption program creates a meaningful way for the Wendy’s community – guests, crew members and franchisees – to support finding forever families for children in foster care during National Foster Care Month.

To date, the Dave Thomas Foundation for Adoption has helped find forever families for more than 16,000 children across the U.S. To learn more about the Round Up for Adoption campaign and how Wendy’s is working to make more family moments possible, visit the Dave Thomas Foundation for Adoption website.

*93% percent of each round up donation customers add to their check is donated to the Dave Thomas Foundation for Adoption

ABOUT WENDY’S:
The Wendy’s Company (Nasdaq: WEN) and Wendy’s franchisees employ hundreds of thousands of people across more than 7,000 restaurants worldwide. Founded in 1969, Wendy’s is committed to the promise of Fresh Famous Food, Made Right, For You, delivered to customers through its craveable menu including made-to-order square hamburgers using fresh beef**, and fan favorites like the Spicy Chicken Sandwich and nuggets, Baconator®, and the Frosty® dessert. Wendy’s supports the Dave Thomas Foundation for Adoption, established by its founder, which seeks to dramatically increase the number of adoptions of children waiting in North America’s foster care system. Learn more about Wendy’s at www.wendys.com. For details on franchising, visit www.wendys.com/franchising. Connect with Wendy’s on X, Instagram and Facebook.

**Fresh beef available in the contiguous U.S. and Alaska, as well as Canada, Mexico, Puerto Rico, the UK, and other select international markets.

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SOURCE The Wendy’s Company

Volunteers serving communities nationwide in recognition of those who care for others

JOPPA, Md., May 5, 2026 /PRNewswire/ — As International Nurses Day approaches on May 12, the Rapid Relief Team (RRT), the charitable arm of the Plymouth Brethren Christian Church, is preparing to recognize and celebrate nurses across North America with a series of appreciation events throughout May.

From Vancouver to New York, RRT volunteers are partnering with hospitals and healthcare facilities to provide meals, refreshments, and support to frontline healthcare workers, offering a small token of thanks to those who dedicate their lives to caring for others.

Across 15 locations, 500 RRT volunteers are expected to serve more than 10,000 meals to nurses and hospital staff throughout the month of May.

Wes Macdonald, RRT N.A. Operations Manager, said International Nurses Day is an important opportunity to recognize the vital role nurses play in communities across North America.

“Nurses build the backbone of our healthcare system with their compassion, resilience, and professionalism every single day,” Macdonald said. “Our volunteers are hoping to say thank you in a meaningful way by providing a meal, a moment of rest, and a reminder that their work does not go unnoticed.”

The 2026 International Nurses Day theme, “Empowered Nurses Save Lives,” underscores the importance of supporting and uplifting nurses in their critical roles. Each RRT event will feature hot meals, refreshments and coffee, giving nurses and hospital staff an opportunity to step away briefly from their duties and recharge.

“This is a tremendous gesture to make the staff feel better, in recognition of all they do” said Dr. Tomas Kaufman at Lakeshore General Hospital in Pointe-Claire, Quebec. “We are getting more and more patients, and there are difficult times, but the staff are just incredible and dedicated”.

In 2025, RRT teams in 10 countries provided 43,500 moments of appreciation—featuring fresh food, in-kind donations, beverages, and more—across more than 100 events supported by 1,350 volunteers.

RRT’s International Nurses Day activities build on its longstanding mission to serve those who serve others. In May, that means supporting the nurses who selflessly support so many of us: day-in, day-out, year-around.

About Rapid Relief Team (RRT): RRT is a global network of over 16,500 volunteers who assist emergency services during disasters and crises by providing meals and other forms of support. Established in 2013 by the Plymouth Brethren Christian Church (PBCC), RRT is dedicated to showing kindness through its actions, embodying the PBCC values of care, compassion, and community support in times of need. To contribute to RRT’s mission, visit their website.

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SOURCE Rapid Relief Team

Originally published on DICK’S Sporting Goods Sideline Report

As young athletes grow older, many quietly drift away from the sports they once loved. One of the most common reasons for this drop in participation isn’t cost, injury or time, but the quality of their experiences with a coach. Research shows that kids who play for trained coaches have more positive experiences and are far more likely to stay in sport. The way a coach communicates, supports and leads can heavily influence whether a young person feels confident, connected and encouraged, on and off the field.

The DICK’S Sporting Goods Foundation and GameChanger believe that coaches sit at the center of the youth sports experience. Beyond teaching skills, coaches shape confidence, well-being and a sense of belonging, especially at pivotal moments in a young athlete’s life. To support youth coaches in this responsibility, The DICK’S Foundation and GameChanger, are joining forces to launch Most Valuable Coach (MVC), an initiative designed to strengthen youth sports by investing in the people who lead them.

“Coaches play one of the most influential roles in a young person’s sports experience, and we believe they deserve the same level of support we expect them to give their athletes,” said Rick Jordan, VP of The DICK’S Sporting Goods Foundation. “With Most Valuable Coach, we wanted to raise awareness around the impact coaches have and make it easier for them to access practical, digestible resources that help them show up for their players. We’re incredibly fortunate to work alongside trusted partners who bring best‑in‑class expertise, ensuring coaches are getting the most relevant, credible information possible.”

Through MVC, the organizations are expanding access to educational tools, coaching guidance and practical tips for coaches and parents navigating today’s youth sports landscape. The initiative focuses on empowering coaches with real-world guidance that prioritizes safe and supportive environments, developmentally appropriate coaching and values driven leadership that supports the whole child.

“At GameChanger, we see every day how much a coach shapes the experience for families, not just in how the game is played, but in how it’s remembered,” said Rebecca Wasserman, GameChanger VP of Strategy, Operations & Impact. “Most Valuable Coach is about recognizing that influence and giving coaches the support they need to create environments where every young athlete feels seen, supported, and excited to keep playing.”

The MVC initiative is also built in collaboration with the Center for Healing & Justice through Sport. CHJS builds capacity in individual coaches, deepens impact in organizations and serves as backbone infrastructure for collective action in youth sport. This collaborative approach ensures that the resources are grounded not only in research, but also in lived experience and proven impact.

“Sport can either be a source of harm or a powerful pathway for healing, depending on the quality of the coach. At CHJS, we’ve seen firsthand that when coaches have science-backed tools, young people feel it. We’re proud to bring that to Most Valuable Coach alongside The DICK’S Foundation and GameChanger,” said Megan Bartlett, Founder of CHJS.

Today, The DICK’S Sporting Goods Foundation and GameChanger formally debuted MVC at the 2026 Project Play Summit in Boston, marking a milestone in The Foundation’s and GameChanger’s continued commitment to youth sports access. The launch brought together leaders across sports, philanthropy, parenting and youth development to spotlight the important role coaches play in shaping the future of sport and introducing MVC as a resource to elevate and support them.

These resources are designed to meet coaches where they are, delivered in short, easy to digest formats and informed by the real-life voices and experiences of youth coaches. Whether new to the sidelines or years into leading a team, coaches will find practical support they can apply to meet the needs of their athletes.

In addition to launching MVC, The DICK’S Sporting Goods Foundation continues their broader mission to expand access to sport and break down the barriers young people face in participating. As part of that commitment, The DICK’S Foundation has renewed its partnerships with the following organizations:

  • Every Kid Sports Every Kid Sports to help cover the cost of youth sports registration fees for kids from income-restricted families nationwide. GameChanger has also partnered with Every Kid Sports to provide free subscriptions to those same families.
  • Good Sports to provide equipment to youth in under-resourced communities
  • LISC to build fields, courts and additional infrastructures in high-need neighborhoods
  • DonorsChoose to support educators and coaches in equity-focused schools, helping keep kids in the game nationwide

More information on Most Valuable Coach, GameChanger and The DICK’S Foundation can be found at BeAnMVC.org, gc.com and sportsmatter.org.

 

MIAMI, May 5, 2026 /PRNewswire/ — As record-breaking amounts of sargassum seaweed drift toward Florida’s shores, researchers at Florida International University are exploring how the coastal nuisance could become a valuable ingredient in everyday foods. 

New findings published in Food Hydrocolloids show that sargassum can serve as a promising source of alginate, a widely used food additive. The study was conducted in collaboration with researchers from Florida State University and Florida Atlantic University. 

Sargassum, a brown algae that forms massive blooms in the Atlantic Ocean, routinely washes onto South Florida beaches, where it produces strong odors, disrupts ecosystems and drives costly cleanup efforts.

Rather than focusing solely on removal, the researchers are investigating how to extract useful compounds from the seaweed and repurpose it for food and industrial applications. 

“The usual approach has been, ‘How do we get rid of it?’ We wanted to ask a different question: ‘Can we use it for something valuable?'” said Imran Ahmad, a food science and technology research professor in FIU’s Chaplin School of Hospitality & Tourism Management and co-author of the study.

The study demonstrates that sargassum contains significant amounts of alginate – a natural polysaccharide commonly used to stabilize and thicken foods such as ice cream, sauces and dairy alternatives. Researchers reported extraction yields of roughly 45%, highlighting its potential as an alternative source to traditionally harvested seaweeds.

Because sargassum is not currently classified as a food source and can carry contaminants, the team also examined ways to process the material safely. 

“It’s generally treated as waste because it smells, affects tourism and can carry contaminants or bacteria,” Ahmad said.

As part of their broader research, the team is evaluating techniques such as high-pressure processing – a method already used in the food industry – to reduce microbial risks while preserving useful compounds. 

“Instead of using heat, which can damage nutrients and structure, we apply extremely high pressure,” Ahmad said. “That high pressure kills harmful microorganisms but preserves the useful compounds we want to extract.”

The work represents an early but important step in a larger effort. Researchers have identified and extracted key compounds and are now working to refine processing methods and evaluate potential applications. Developing consumer-ready products will require additional testing and regulatory approval. 

“Our researchers at the Chaplin School are always looking for ways to solve problems that affect and can help improve the hospitality and tourism industry,” said Michael Cheng, dean and professor of the top-ranked hospitality school. “We are proud of Dr. Ahmad’s innovative research and look forward to seeing how his work can help solve not only a Florida, but much larger global issue.” 

The research highlights a sustainable approach to transforming a recurring problem into a useful product. Beyond food innovation, the research addresses a growing environmental challenge across Florida and the Caribbean. By turning sargassum into a usable resource, scientists hope to reduce waste, lower cleanup costs and support more sustainable supply chains. 

“If we can turn it into something useful, we shift the conversation from disposal to opportunity,” Ahmad said. 

Photos and videos for media use are available via Dropbox

Media Contact:
Ivonne Yee-Amor 
305-299-2091 
iamor@fiu.edu 
news.fiu.edu
@FIU

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SOURCE Florida International University

The article outlines key planning, safety, and site considerations that shape effective and responsible tree removal projects.

COEUR D’ALENE, Idaho, May 5, 2026 /PRNewswire/ — What should homeowners and property managers consider before hiring for tree removal? Cody Holmes of Holmes Earth Construction LLC addresses this often-overlooked question in a HelloNation article that explains why comprehensive planning not just cutting, should guide every removal project. Holmes emphasizes that responsible tree removal goes far beyond dropping a trunk and requires careful evaluation of site conditions, future land use, and safety.

According to Holmes, a complete tree removal includes safe dismantling, root system extraction, full debris haul-off, and a hazard assessment of nearby structures and terrain. Trees near homes, fences, or power lines pose elevated risks, and factors such as soil conditions and tree lean must be assessed before work begins. Root removal is particularly important in projects that involve future construction, grading, or landscaping, as leftover root systems can cause surface instability or interfere with future work.

The article also highlights the importance of clearly defined debris disposal. Holmes cautions that unless it is addressed in writing, some contractors may leave behind trunk segments or brush piles. Homeowners should clarify whether the site will be cleaned, raked, or roughly graded following removal. Compliance with local tree protection ordinances is another key consideration, especially in areas with protected species or permitting requirements. Lastly, Holmes recommends hiring crews that follow arborist standards, even when certification isn’t mandated, as it indicates a higher level of safety, training, and professionalism.

In “What to Know Before Hiring for Tree Removal, Cody Holmes, an excavation expert with Holmes Earth Construction LLC in Coeur d’Alene, Idaho, provides practical insights to help property owners avoid costly mistakes and ensure that tree removal aligns with long-term land-use goals in HelloNation.

About HelloNation
HelloNation is a premier media platform that connects readers with trusted professionals and businesses across various industries. Through its innovative “edvertising” approach that blends educational content and storytelling, HelloNation delivers expert-driven articles that inform, inspire, and empower. Covering topics from home improvement and health to business strategy and lifestyle, HelloNation highlights leaders making a meaningful impact in their communities.

www.hellonation.com

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SOURCE HelloNation

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