We have a brand new updated website! Click here to check it out!

ADM posts lower revenue because of weather-related factors

HUTCHINSON, Kan. — Oilseed giant Archer Daniels Midland struggled in the first quarter of this year as the company was beset by weather challenges, including Midwest flooding.

The company, which operates five elevators in Hutchinson, reported net earnings of $233 million compared with $393 million last year. Total revenue was $15.3 billion compared with $15.5 billion in 2018.

ADM says extreme weather conditions negatively impacted segment operating profit by approximately $60 million. ADM saw declines in every operating segment during the quarter.

ADM employs about 60 workers at its five facilities in Hutchinson.

Arconic is next in line to release quarterly earnings on May 30.

Copyright Eagle Radio | FCC Public Files | EEO Public File