ADM net earnings boosted 85% in nine months 2018
In nine month 2018, ADM (Archer Daniels Midland Co.) net earnings rose by 85% to USD 1.49 billion.
Company's net earnings in third quarter 2018 amounted to USD 536 million, which is USD 192 million higher y-o-y. Oil crushing operating profit increased to USD 221 million vs USD 36 million in the prior-year period. Soybean crush volume is estimated at 9.18 million tons or +11% y-o-y.
Grains processed volumes in July-September of the current year reached 5.6 million tons which correspond the quarterly indicators in 2018 and are 2.4% higher than in the corresponding period of the year 2017.
Other charges for the quarter in Corporate improved due to better results from the company’s investment.
Revenues in 3Q 2018 amounted to USD 15.8 billion, whereas for nine months 2018 — USD 48.39 billion.
Earnings per share rose 2.7 times in Q3 2018 and made up USD 0.94, adjusted earnings per share — USD 0.92.
Earlier the company informed that its subsidiary Amilum Bulgaria had begun the construction of a new corn processing facility in the northeastern town of Razgrad (Bulgaria), aiming to double its production capacity.