HUTCHINSON, Kan. — Archer Daniels Midland (ADM) will release its 4Q report later this week. The oilseed giant hopes to continue its rebound from a tough start to 2019 when flooding and other factors slowed earnings.
ADM reported earnings of $407 million, or $0.72 per share, in the third quarter compared with $0.92 per share in 2018. Profits fell year-over-year although the company did better than the previous quarter at $758 million.
The slow start to 2019 resulted in the company offering early retirement for a number of employees in both the U.S. and Canada. It also consolidated several sectors of the company in a cost-cutting move.
ADM employs about 60 workers in Hutchinson.