ADM partners with Sazerac for hand sanitizer production, reports Q1 net earnings of $391M

In Illinois, ADM reported its first quarter earnings showing Ag Services and Oilseeds and Nutrition both delivering strong results and higher than last year but carbohydrate solutions lower than last year’s Q1. It also reported that it is providing industrial ethyl alcohol to Sazerac and is donating sanitizer to Decatur healthcare and long-term care facilities.

ADM reported Q1 earnings of $0.69 per share, $0.64 per share on an adjusted basis, net earnings of $391 million, and strong quarter-end balance sheet with cash and cash equivalents of $4.7 billion.

ADM has partnered with Sazerac Company, the largest producer of distilled spirits in North America, to help increase Sazerac’s production of hand sanitizer and support efforts to fight COVID-19.

Ag Services & Oilseeds delivered strong results that were in line with the year-ago period. Carbohydrate Solutions results were lower than the first quarter of 2019. Nutrition results were once again substantially higher year over year.