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Archer Daniels shares rise after Q4 beat

Archer Daniels Midland Co. ADM, +0.51% shares rose 1.3% in Tuesday premarket trading after the human and animal nutrition company reported fourth-quarter earnings that beat expectations. Net income totaled $687.0 million, or $1.22 per share, up from $504.0 million, or 90 cents per share, last year. Adjusted EPS was $1.21, beating the FactSet consensus for $1.10. Revenue of $17.98 billion was up from $16.33 billion and also ahead of the FactSet consensus for $16.48 billion. “For ADM, based on the continued delivery of drivers under our control and improving market conditions as the year progresses, we expect strong growth in segment operating profit and another record year of EPS in 2021,” said Juan Luciano, Archer Daniels’ chief executive, in a statement. Archer Daniels stock has gained nearly 20% over the past year while the benchmark S&P 500 index SPX, +0.36% was up 17%.

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