UPDATE: ADM Posts Upbeat Q4 Profit, Revenue Misses View

reported better-than-expected earnings for the fourth quarter, but the company's revenue missed analysts' estimates. The Chicago, Illinois-based company posted quarterly earnings of $701 million, or $1.08 per share, compared to $374 million, or $0.56 per share, in the year-ago period. Excluding certain items, the company's earnings rose to $1 per share from $0.95 per share. Its revenue declined 13% to $20.89 billion. However, analysts were expecting earnings of $0.94 per share on revenue of $23.85 billion. Input costs shrank 15% to $19.44 billion. Operating earnings for ADM's corn-processing business rose to $282 million from $279 million, while operating profit for the company's oilseeds-processing business surged to $582 million from $478 million. Agricultural services operating profit jumped to $418 million from $46 million. The company raised its quarterly dividend by around 17% to $0.28 per share. During the quarter, ADM repurchased 9.4 million shares. “The Agricultural Services team executed well to capitalize on strong conditions, while international merchandising continued to show year-over-year recovery,” said ADM Chief Executive Officer Juan Luciano. “In North America and Europe, Oilseeds showed strong year-over-year growth, offset by weaker results in South America. Looking ahead in North America and Europe, solid crush margins and export opportunities have carried into the first quarter. Market conditions in South America Oilseeds should improve with the large harvest, and we are working toward higher returns throughout 2015 in this key geography.” ADM shares climbed 3.30% to close at $48.17 yesterday.