Tags: US | Earns | Archer | Daniels | Midland

Archer Daniels Midland Net Surges Despite Sales Dip

Tuesday, 03 Aug 2010 08:56 AM

Archer Daniels Midland Co., a major corn and soybean processor and ethanol maker, said Tuesday its fourth-quarter net income surged even as sales slipped.

The company said the profit boost came mainly from higher volumes and margins.

The company, based in Decatur, Ill., said it earned $446 million, or 69 cents per share, up from $58 million, or 9 cents per share, in the same period last year. Revenue fell 5 percent to $15.7 billion from $16.53 billion. But, the cost of products sold fell 9 percent to $14.78 billion.

Analysts polled by Thomson Reuters expected ADM to earn 53 cents per share on $16.47 billion in revenue.

Operating profit in the company's oilseeds and corn processing segments increased. Operating profit in its agricultural services segment also improved.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Companies
Archer Daniels Midland Co., a major corn and soybean processor and ethanol maker, said Tuesday its fourth-quarter net income surged even as sales slipped.The company said the profit boost came mainly from higher volumes and margins.The company, based in Decatur, Ill., said...
US,Earns,Archer,Daniels,Midland
128
2010-56-03
Tuesday, 03 Aug 2010 08:56 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved