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BRIEF-Archer Daniels Midland Reports Fourth Quarter Results

Published 05/02/2019, 11:13 pm
Updated 05/02/2019, 11:20 pm
BRIEF-Archer Daniels Midland Reports Fourth Quarter Results

Feb 5 (Reuters) - Archer Daniels Midland Co ADM.N :

* ADM REPORTS FOURTH QUARTER EARNINGS OF $0.55 PER SHARE, $0.88 PER SHARE ON AN ADJUSTED BASIS

* Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.88 EXCLUDING ITEMS

* Q4 EARNINGS PER SHARE $0.55

* Q4 EARNINGS PER SHARE ESTIMATE $0.92 -- REFINITIV IBES DATA

* QTRLY REVENUE $15,947 MILLION VERSUS $16,070 MILLION LAST YEAR

* Q4 REVENUE VIEW $16.81 BILLION -- REFINITIV IBES DATA

* QTRLY OILSEEDS ADJUSTED OPERATING PROFIT OF $432 MILLION VERSUS $201 MILLION

* QTRLY EPS AS REPORTED OF $0.55 INCLUDES A $0.02 PER SHARE LOSS RELATED TO SALE OF BUSINESSES AND ASSETS

* QTRLY ORIGINATION ADJUSTED. SEGMENT OPERATING. PROFIT $183 MILLION VERSUS $261 MILLION

* ARCHER DANIELS MIDLAND - QTRLY EPS AS REPORTED ALSO INCLUDES A $0.35 PER SHARE CHARGE RELATED TO ASSET IMPAIRMENT, RESTRUCTURING, SETTLEMENT CHARGES

* CURRENT-QUARTER RESULTS DRIVEN BY INTRA-CO INSURANCE SETTLEMENT RELATING TO SORGHUM SHIPMENTS IN EARLY 2018

* CORPORATE QTRLY RESULTS ALSO INCLUDE ASSET IMPAIRMENT AND RESTRUCTURING CHARGES OF $67 MILLION

* CORPORATE QTRLY RESULTS ALSO INCLUDE NON-CASH PENSION SETTLEMENT CHARGE OF $117 MILLION

* CORPORATE QTRLY RESULTS ALSO INCLUDE ACQUISITION-RELATED EXPENSES OF $12 MILLION

* IN ORIGINATION, QTRLY MERCHANDISING AND HANDLING RESULTS WERE LOWER THAN PRIOR-YEAR PERIOD

* ADM MADE CHANGES TO ITS SEGMENT REPORTING IN Q1 OF 2018 TO REFLECT CO'S NEW OPERATING STRUCTURE

* QTRLY NORTH AMERICAN EXPORTS OF CORN, AND SOYBEANS TO MARKETS OUTSIDE OF CHINA, WERE HIGHER

* ADM - UNALLOCATED CORPORATE COSTS FOR QUARTER INCREASED PRINCIPALLY DUE TO PERFORMANCE-RELATED COMPENSATION ACCRUALS, READINESS-RELATED COSTS

* IN ORIGINATION, QTRLY TRANSPORTATION RESULTS BENEFITED FROM IMPROVED FREIGHT RATES, OFFSET BY INCREASED OPERATING COSTS

* IN STARCHES AND SWEETENERS, NORTH AMERICAN VOLUMES REMAINED SOLID IN QUARTER

* QTRLY BIOPRODUCTS RESULTS WERE LOWER THAN Q4 OF 2017

* ADM - IN ORIGINATION, QTRLY N. AMERICAN RESULTS BENEFITED FROM WHEAT BASIS GAINS & OTHERS, DESPITE "EXTREMELY SMALL VOLUME OF U.S. SOYBEAN EXPORTS TO CHINA"

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