- Adjusted EPS of $0.46 excludes approximately $39 million in pretax LIFO charges, or $0.04 per share; $51 million, or $0.05 per share, in foreign-currency hedging losses related to the GrainCorp acquisition; and $29 million, or $0.03 per share, of additional provisions related to the previously disclosed FCPA matter.
- Oilseeds Processing profit decreased $10 million as solid performance in crushing and origination was offset by weaker cocoa results.
- Corn Processing profit increased $149 million due to improved ethanol results.
- Agricultural Services profit decreased $42 million amid expected lower U.S. origination volumes as well as weaker international merchandising results.
- ADM’s net debt position fell to $5.5 billion, down from $8.9 billion a year ago, as ADM’s focus on capital efficiency further strengthened the balance sheet.
ADM Reports Second Quarter 2013 Earnings Of $223 Million Or $0.34 Per Share
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