Business

ADM misses 4Q profit forecasts

Posted February 02, 2016 6:00 am

The Associated Press

DECATUR, Ill. (AP) - Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter profit of $718 million.

On a per-share basis, the Decatur, Illinois-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The agribusiness giant posted revenue of $16.45 billion in the period.

For the year, the company reported profit of $1.85 billion, or $2.98 per share. Revenue was reported as $67.7 billion.

ADM shares have decreased slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped 5 percent. The stock has decreased 24 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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Keywords: Archer Daniels Midland, Earnings Report

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