Archer Daniels Midland 2Q net income up 29 pct (AP)
ST. LOUIS – Agribusiness corp Archer Daniels Midland says its second-quarter acquire jumped 29 proportionality as a recovery in the alcohol business and ontogeny obligation for grains boosted income and acquire margins.
The company, whose dealings arrange from raising crops to making alcohol and shipping food exports, said Tuesday its gain income was $732 million, or $1.14 per share, for the three months ended Dec. 31. That's up from $567 million, or 88 cents per share, a assemblage earlier.
It easily vex Wall Street expectations. Analysts surveyed by FactSet due earnings of 78 cents per share.
ADM, based in Decatur, Ill., says income chromatic 31.6 proportionality to $20.93 billion. Analysts due $17.24 billion.
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