HUTCHINSON, Kan.— Archer Daniels Midland (ADM) will release its second quarter earnings before the bell Tuesday as the company looks to keep momentum from a positive start to the fiscal year.
The oil seed company reported a 53% jump in first-quarter profit, as the global grain trader was helped by higher demand and tight supplies of crops. Net earnings attributable to ADM were $1.05 billion, or $1.86 per share, in the three months ended March 31, compared with $689 million, or $1.22 per share, a year ago. Operating profit totaled $1.53 billion compared with $1.10 billion in 2021.
ADM operates five elevators in the Hutchinson area employing around 60 workers.
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