HUTCHINSON, Kan. —Archer Daniels Midland (ADM) released its quarterly earnings report for 1Q and it was good news again for the oilseed company.
Q1 2023 Earnings Per Share as reported of $2.12 includes a $0.01 per share charge related to impairments and restructuring; a $0.01 per share gain related to the mark-to-market adjustment on the Wilmar exchangeable bond; and a $0.03 per share tax benefit related to certain discrete items. Adjusted EPS, which excludes these items, was $2.09.
Segment operating profit of $1.7 billion for the quarter includes charges of $7 million ($0.01 per share) related to impairments and restructuring and gains of $1 million ($0.00 per share) related to the sale of certain assets.
Locally, ADM operates five elevators in Hutchinson, employing around 65 workers.
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