DECATUR, Illinois — Archer Daniels Midland Co. (ADM) on Tuesday reported fourth-quarter net income of $701 million.
The Decatur, Illinois-based company said it had profit of $1.08 per share. Earnings, adjusted for non-recurring gains, were $1 per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The agribusiness giant posted revenue of $20.89 billion in the period, missing Street forecasts. Analysts expected $23.29 billion, according to Zacks.
ADM shares have fallen slightly more than 7 percent since the beginning of the year, while the Standard & Poor's 500 index has declined roughly 2 percent. The stock has climbed 22 percent in the last 12 months.
Keywords: Archer Daniels Midland, Earnings Report