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ADM to report 3Q earnings Thursday

HUTCHINSON, Kan. — Archer Daniels Midland hopes for more treats than tricks when it releases quarterly earnings reports before the bell Halloween morning.

The company is trying to rebound from a sluggish start to the fiscal year, which saw earnings of $235 million or $0.60 per share in the second quarter, compared to $566 million and $1.02 the same period last year.

Flooding ate into the company’s profits and several segments of the company continued to struggle in the market. During the last quarterly report, ADM said it was consolidating several segments and offering early retirement to employees in both the U.S. and Canada.

ADM employs about 60 workers at its Hutchinson elevators and carries a total valuation in the county of more than $2.35 million. ADM is the 14th largest property taxpayer in Reno County.

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