CHICAGO (AP) — Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter earnings of $687 million.
The Chicago-based company said it had net income of $1.22 per share. Earnings, adjusted for one-time gains and costs, were $1.21 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The agribusiness giant posted revenue of $17.98 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $16.55 billion.
For the year, the company reported profit of $1.77 billion, or $3.15 per share. Revenue was reported as $64.36 billion.
ADM shares have climbed slightly more than 5% since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 3%. The stock has risen 18% 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 https://www.zacks.com/ap/ADM
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