HUTCHINSON, Kan. — Archer Daniels Midland Company felt the pressure of the spring flooding with the release of its second-quarter earnings.

“We took aggressive action in the face of challenging external conditions, and we are confident that our work over the first half of the year will help deliver a stronger back half,” Chairman and CEO Juan Luciano said. “Just as important, our transformative changes are positioning ADM to capitalize on significant market opportunities and grow earnings and returns in 2020 and beyond.”

The company which employs about 60 workers at five elevators in Hutchinson, reported earnings of $235 million or $0.60 per share, compared to $566 million and $1.02 the same period last year.

Total revenue for the quarter was $16.2 billion, compared to the $17 billion earned in 2018. Flooding ate into the company’s profits and several segments of the company continued to struggle in the market. ADM says it is taking steps to turn things around, including consolidation of several segments and offering early retirement to employees in both the US and Canada.

ADM carries a total valuation in the county of more than $2.35 million and is the 14th largest property taxpayer in Reno County.