UPDATE: Archer Daniels Midland Posts Drop In Q4 Profit
Archer Daniels Midland Co (NYSE: ADM) reported a drop in its fourth-quarter profit.
Archer Daniels Midland's quarterly profit declined to $374 million, or $0.56 per share, versus a year-ago profit of $510 million, or $0.77 per share. Its adjusted earnings came in at $0.95 per share.
Its net sales fell to $24.14 billion versus $24.92 billion. However, analysts were expecting earnings of $0.85 per share on sales of $25.34 billion.
Archer Daniels Midland shares closed at $38.91 yesterday.
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