By ROD ZOOK
Hutch Post
HUTCHINSON, Kan. —The quarterly earnings parade for companies with ties to Reno County continues on Tuesday when Archer Daniels Midland releases its second quarter report.
The oil seed giant got the fiscal year off to a good start when they reported first quarter adjusted earnings of $1.39 per share compared with $0.69 one year ago. Earnings totaled $738 million compared with $361 million in 2020. Operating profit was also strong at $1.1 billion and total revenue increased to nearly $19 billion.
The company is coming out of a major reshuffling of its business platform by consolidating business sectors and idling most of its railcar fleet during the pandemic to cut expenses.
ADM operates five elevators throughout the city of Hutchinson and employs around 60 workers.
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