HUTCHINSON, Kan. —Archer Daniels Midland (ADM) released its quarterly earnings report and it was good news again for the oilseed company.
Q4 2022 Earnings Per Share as reported of $1.84 includes a $0.10 per share charge related primarily to impairments, restructuring, and settlement contingencies; a $0.02 per share gain related to the sale of certain assets; and a $0.01 per share tax expense related to certain discrete items. Adjusted EPS, which excludes these items, was $1.93.
The company had net earnings of $1.0 billion for Q4, adjusted net earnings of $1.1 billion.
“ADM delivered another very strong quarter to complete an outstanding year, and the strategic work we have done throughout 2022 has positioned us well for 2023 and beyond,” said Chairman and CEO Juan Luciano.
The company also announced it is raising its quarterly dividend by 12.5%, to $0.45 per share, representing the 50th consecutive year of dividend increases.
The dividend is payable on March 2, 2023, to shareholders of record on Feb. 9, 2023. This is ADM’s 365th consecutive quarterly payment, a record of 91 years of uninterrupted dividends.
Locally, ADM operates five elevators in Hutchinson, employing around 65 workers.
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