Archer-Daniels (ADM $29.35 -1.13) reported fourth quarter earnings of
$0.58 per share, $0.25 worse than the Capital IQ Consensus Estimate of $0.83.
Revenues rose 45.6% year/year to $22.87 billion versus the $20.12 billion
consensus.
Net earnings for the fourth quarter of $381 million decreased $6 million due
principally to higher income tax expense of $280 million. This was partially
offset by higher segment operating profit of $ 89 million and credits in LIFO
inventory valuations, included in corporate, caused by lower agricultural
commodity prices at the end of the fourth quarter compared to the beginning of
the quarter.
The company said, "Despite a challenging environment in several key markets, ADM
delivered solid operating results across all our businesses for the quarter. We
earned record operating profit for the fiscal year with our growing global asset
base, diversified product portfolio and the acumen of the ADM team. Looking
ahead, we are confident in our people, our assets and our financial strength to
deliver profitable growth and value for our shareholders as we serve the vital
needs of a growing world."






