Archer Daniels Midland Co. ADM, -3.06% reported fourth-quarter net income of $782 million, or $1.38 per share, up from $687 million, or $1.22 per share last year. Adjusted EPS of $1.50 beat the FactSet consensus of $1.32. Revenue totaled $23.09 billion, up from $17.98 billion last year and also ahead of the FactSet consensus for $20.21 billion. “As we enter 2022, we’re well situated to capitalize on strong crush margins,” said Chief Executive Juan Luciano in a statement, driven by items including “vegetable oil as a feedstock for renewable green diesel” and ethanol. Archer Daniels raised its dividend 8.1% to 40 cents per share, payable on March 1 to shareholders of record as of February 8. Archer Daniels stock edged up 0.6% in Tuesday premarket trading, and has run up 29.2% over the past year. The benchmark S&P 500 index SPX, -1.60% has gained 14.4% over the last 12 months.
View Article Origin Here
