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ADM tops 4Q profit forecasts

Posted February 02, 2015 10:00 pm

The Associated Press

DECATUR (AP) - Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter net income of $701 million.

The Decatur-based company said it had profit of $1.08 per share. Earnings, adjusted for non-recurring gains, were $1 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The agribusiness giant posted revenue of $20.89 billion in the period, missing Street forecasts. Analysts expected $23.29 billion, according to Zacks.

ADM shares have fallen slightly more than 7 percent since the beginning of the year, while the Standard & Poor's 500 index has declined roughly 2 percent. The stock has climbed 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADM at http://www.zacks.com/ap/ADM

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