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ADM Reports 2Q Jump in Earnings

posted on January 28, 2005


Agribusiness giant Archer Daniels Midland Co. said this week that second quarter earnings increased 42 percent despite higher corn costs.

ADM reported net income of $313.5 million, or 48 cents a share, for the three months ended Dec. 31, compared to $220.8 million, or 34 cents a share, from a year earlier.

Excluding a one-time gain of $5 million, or seven cents a share, from the sale of assets by an affiliate, ADM showed a profit of 41 cents a share. Analysts had estimated earnings of 39 cents a share.

Revenue slipped about 1 percent to $9.06 billion, from $9.18 billion a year earlier.


Tags: agriculture corn news