HUTCHINSON, Kan. — Oil seed giant ADM released its first quarter earnings report Tuesday.
The company reported adjusted earnings of $1.39 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 was able to weather the pandemic and keep costs down by consolidating businesses sectors in late 2019 and by incurring fewer expenses in 2020 including idling its railcar fleet which reduced maintenance expenses.
ADM operates five elevators around the Hutchinson area, employing around 60 workers.
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