Feb 4 U.S. agricultural processor Archer Daniels
Midland Co on Tuesday said fourth quarter earnings fell
27 percent, largely due to charges relating to its failed
acquisition of Australian grain handler GrainCorp.
For the quarter ended Dec. 31, ADM earned a net profit of
$374 million, or 56 cents a share, compared with $510 million,
or 77 cents a share, a year earlier, the Decatur, Illinois-based
Adjusted earnings, which excluded GrainCorp-related charges
and other items, were 95 cents a share, ADM said.
Analysts on average were expecting earnings of 85 cents per
share, according to Thomson Reuters I/B/E/S.
ADM is one of the largest U.S. processors of corn and
soybeans and one of the world's top ethanol makers.
Shares of ADM closed on Monday at $38.91 per share on the
New York Stock Exchange, down 57 cents from the previous