CHICAGO, Ill. (Reuters) — Archer Daniels Midland Co. has reported a lower adjusted quarterly profit on lower U.S. exports and weak ethanol margins.
The company said net fourth quarter profit, excluding one-time items, fell to 61 cents per share from $1 per share a year ago. Analysts had expected 64 cents per share, according to Thomson Reuters.
Quarterly earnings were $718 million, or $1.19 a share, including gains from the sale or revaluation of assets and non-recurring charges, compared with $701 million, or $1.08 a share, in the same quarter a year earlier.
