ADM: Q4 Earnings Snapshot
By AP News
Published - Mar 12, 2024, 07:27 AM ET
Last Updated - Mar 12, 2024, 07:27 AM EDT
CHICAGO (AP) — CHICAGO (AP) — Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter profit of $565 million.
The Chicago-based company said it had profit of $1.06 per share. Earnings, adjusted for one-time gains and costs, came to $1.36 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The agribusiness giant posted revenue of $22.98 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $23.65 billion.
