CHICAGO — Archer Daniels Midland Co. today reported fourth-quarter earnings of $687 million.
The company said it had net income of $1.22 per share. Earnings, adjusted for one-time gains and costs, were $1.21 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The agribusiness giant posted revenue of $17.98 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $16.55 billion.
For the year, the company reported profit of $1.77 billion, or $3.15 per share. Revenue was reported as $64.36 billion.
ADM shares have climbed slightly more than 5% since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 3%. The stock has risen 18% in the past 12 months.