HUTCHINSON, Kan. – ADM reported that second-quarter net earnings fell to $386 million, or 62 cents per share, from $533 million, or 81 cents per share, a year earlier.
The ag products company saw adjusted earnings declined to 58 cents per share from 72 cents a year ago, missing the average analyst estimate of 66 cents per share, according to Thomson Reuters. ADM shares are down about 8 percent so far this year, compared with a 12 percent decline for rival Bunge Ltd.
ADM operates four elevators in Hutchinson employing 48 people. Kroger is next in line to announce its quarterly earnings. That announcement comes September 11th.