Archer Daniels Midland is reporting fourth quarter adjusted operating profits of $860 million. ADM Chairman and CEO Juan Luciano says the strong quarterly performance lead to a 26 percent year-over-year earnings increase. “There’s an adjusted segment operating profit of $3.4 billion, 26 percent higher than 2017,” says Luciano. “There is also strong operating cash flows, up more than 40 percent.” ADM Chief Financial Officer Ray Young says ADM had an impressive fourth quarter, even with market challenges. “North American results benefit from weak basis gains and solid execution that drove improvements in export margins in comparable year over-year-volumes,” says Young. “The team did an excellent job offsetting significantly reduced exports to China by driving North American exports of corn and soybean exports to markets outside of China.”
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