HUTCHINSON, Kan. — The earnings season continued with Archer Daniels Midland releasing its third quarter report.
The oilseed company posted third quarter net income of $225 million. Earnings, adjusted for non-recurring costs, were $0.89 per share. Total revenue was $15.13 billion in the period, which fell short of forecasts.
“We delivered an outstanding quarter, and I am proud of our team’s continued great performance,” Chairman and CEO Juan Luciano said. “Across the enterprise, ADM colleagues are doing what it takes to help our customers and our company succeed and grow. Our strategic initiatives, combined with exceptional execution, are driving strong results across all of our businesses.
ADM operates five elevators in the Hutchinson area and typically employs between 50 and 60 workers.