HUTCHINSON, Kan. — Archer Daniels Midland continued to move in a strong direction as it released its fourth quarter earnings on Tuesday. The oil seed company reported today reported total earnings of $728 million or $1.32 per share.
“Our record results reflect the continued success of our growth strategy and our culture of innovation and execution, which enabled our global team to successfully navigate through supply chain challenges while capitalizing on favorable demand dynamics to deliver an outstanding year,” Chairman and CEO Juan Luciano said.
“Just as importantly, we’re advancing our productivity and innovation actions to accelerate earnings growth,” Luciano continued. “We’ve positioned our portfolio to align with the enduring trends of food security, health and well-being, and sustainability. As we enter 2022, we’re well situated to capitalize on strong crush margins, driven by good demand for meal and for vegetable oil as a feedstock for renewable green diesel; a continuing healthy ethanol market, supported by increased domestic and export demand and better clarity of the regulatory landscape; and our robust Nutrition sales pipeline, as well as the accretion of our recent acquisitions in that business."
Total revenue for the quarter was $23 billion and profits totaled $1.38 billion which was a small increase year-over-year. For the year, the company reported profit of $2.71 billion, or $4.79 per share. Revenue was reported as $85.25 billion.
ADM operates five elevators around Hutchinson employing around 65 workers.
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