ADM misses 4Q profit forecasts

MarketsAssociated Press

Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter net income of $424 million.

On a per-share basis, the Chicago-based company said it had profit of 73 cents. Earnings, adjusted for one-time gains and costs, were 75 cents per share.

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The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The agribusiness giant posted revenue of $16.5 billion in the period.

ADM shares have decreased nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has climbed 29 percent 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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Keywords: Archer Daniels Midland, Earnings Report