ADM reports higher earnings, warns over ethanol

ADM reports higher earnings, warns over ethanol

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From WATTAgNet:

Archer Daniels Midland (ADM) reported higher quarterly earnings, but revenue fell short of expectations.

ADM reported net earnings of $701 million, or $1.08 per share, in the quarter ended December 31, up from $374 million, or 56 cents a share, a year earlier. Revenue fell to $20.89 billion from $24.14 billion, short of the consensus expectation of $23.85 billion.

The company said it would raise quarterly cash dividends by 17 percent in 2015 to 28 cents per common share and was targeting share repurchases of between $1.5 billion and $2 billion. It earmarked 2015 capital expenditures of $1.1 billion to $1.3 billion.

ADM warned over prospects for ethanol production margins, even though it credited its operations in biofuel with helping its profits.

"Margins in this industry should remain challenged until supplies are better aligned with demand," said ADM’s CEO Juan Luicano.

In other ADM news, the company announced that it has reached an agreement to sell to Glencore P.L.C. a 50 percent stake in its export terminal in Barcarena, in northern Brazil. The ADM-Glencore joint venture that will own and operate the facility following the transaction also plans to quadruple the terminal’s capacity from 1.5 million metric tons to 6 million metric tons.

UPDATE 2-ADM profit jumps as big U.S. harvest boosts ag services

CHICAGO Feb 3 (Reuters) – U.S. Earnings in agricultural services, ADM’s biggest business segment in terms of revenue, grew as bumper U.S. Cargill Inc last month reported a 41-percent profit surge in its latest quarter as lower grain prices raised demand for crops and padded margins on its meat sales. Revenue fell to $20.89 billion from $24.14 billion, missing the consensus expectation of $23.85 billion.

Read more at Reuters

ADM warns over ethanol, after strong finish to 2014

Archer Daniels Midland cautioned over prospects for ethanol production margins, even as the agricultural trading giant credited its operations in the biofuel with helping a better-than-expected group profits. Juan Luicano, in his first results statement as the ADM chief executive, said that US …

Read more at Agrimoney

ADM to Sell 50 Percent Stake in Northern Brazil Export Terminal.

New joint venture will invest to quadruple facility’s annual capacity to 6 million metric tons CHICAGO–(BUSINESS WIRE)–Archer Daniels Midland Company (NYSE: ADM) announced today that it has reached an agreement to sell to Glencore plc (LSE: GLEN) a 50 percent stake in its export terminal in Barcarena, in the northern Brazilian state of Para.

Read more at Manufacturing & Technology eJournal

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