ADM profit jumps 30% to $424M in Q4
In Illinois, Archer Daniels Midland Company (NYSE: ADM) reported Q4 earnings of $424 million, or $0.73 per Share, and $0.75 per Share on an Adjusted Basis. The company noted adjusted segment operating profit up over 30 percent compared to prior fourth quarter, and said that it expected improvements across all businesses, project launches lead to confidence for stronger 2017.
“We capitalized on an improved environment, delivering stronger fourth quarter performance after working through difficult market conditions earlier in the year,” said ADM Chairman and CEO Juan Luciano. “Ag Services saw strong results in North America and weak results from the global trade desk. The Corn business delivered a good quarter, led by sweeteners and starches, and saw solid results from bioproducts. Oilseeds results were comparable to last year despite lower global crush margins. In WFSI, WILD Flavors continued to deliver earnings growth, while some of our specialty ingredients businesses faced challenges, which we are addressing.
“We have continued to take important steps to advance our strategic plan by completing additional acquisitions, organic growth projects and portfolio management actions; exceeding our 2016 target for run-rate cost savings; and progressing in our efforts to reduce capital intensity. In line with our balanced capital allocation framework, we returned $1.7 billion to shareholders in dividends and share buybacks during the year.
Category: Fuels
