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 Wysłany: Wto 2:49, 26 Kwi 2011 Temat postu: Air Jordan 637feArcher Daniels Q4 Profit Surges |
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her Daniels Midland Co.’s (ADM) fiscal 2010 fourth-quarter earnings soared to $446 million or 69 cents per share from $58 million alternatively 9 pence in the year-ago quarter. Quarterly income also surged elapse the Zacks Consensus Estimate of 50 cents per share.
The solid quarterly result was mainly driven by higher volumes and better margins in Oilseeds and Corn Processing. Shares of Archer Daniels rose more than 1.5% in pre-market trading on the New York Stock Exchange.
Archer Daniels’ quarterly net sales dropped 5% year-over-year to $15.7 billion [link widoczny dla zalogowanych], lacking the Zacks Consensus Estimate of $16.3 billion. The decrease was chiefly occasioned by a 13.4% decline in Agricultural Services revenue to $5.7 billion, partially offset by a 7.0% growth in Corn Processing revenues to $2.0 billion. Oilseeds Processing recorded essentially flat performance, with revenues dipping 0.4% to $6.74 billion from $6.76 billion in the year-ago period.
Total segment operating profit for Archer Daniels ascended approximately quadruple to $799 million from $208 million in the prior-year quarter. Operating profit because Oilseeds Processing segment grew 58.1% to $359 million from $227 million in the year-ago period reflecting better crushing volumes in South America and Europe [link widoczny dla zalogowanych], enhanced margins in soybean and softseed trampling and recent expansion of biodiesel facility in Brazil.
Archer Daniels’ Corn Processing segment swung to an operating profit of $140 million from an operating loss of $11 million last year. The turnaround was primarily attributable to a considerable improvement in bioproducts performance stemming from better margins for ethanol and lysine helped by lower web corn costs. However [link widoczny dla zalogowanych], growth in segment operating income was partially offset by lower mean selling amounts in sweeteners and starches.
Archer Daniels’ Agricultural Services segment likewise logged a quarterly operating profit of $178 million compared to an operating detriment of $17 million in the year-ago phase, ashore the behind of considerable correction in sales planning and treatment results. Operating profit from the Other commerce segment soared to $122 million from $9 million in the year-ago quarter, driven at a solid rendition in cocoa and flour milling operations, for well as mark-to-market acquisitions on ahead bargains.
Archer Daniels exited the quarter with cash and cash equivalents of $1.05 billion and long-term debt-to-capitalization percentage of 32.9%, compared to a cash poise of $1.06 billion and long-term debt-to-capitalization of 35.9% in the year-ago quarter. During financial 2010, Archer Daniels generated $2.7 billion of cash from operations and deployed $1.6 billion towards chief disburse, $552 million towards debt repayments and $372 million towards bonuses.
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