- Adjusted EPS of $0.77 excludes approximately $73 million in pretax LIFO income, or $0.07 per share, and $31 million in pretax costs related to restructuring, or about $0.03 per share.
- Oilseeds Processing increased $18 million, as continued good North American crushing results were partially offset by weaker origination results in South America and lower results from Wilmar.
- Corn Processing increased $69 million on strong ethanol demand and steady sweetener volumes.
- Agricultural Services increased $122 million, driven by strong U.S. exports and significantly improved results from international merchandising.
- Trailing four-quarter-average adjusted ROIC increased 200 basis points year over year.
- The net debt position 2 of the company declined to $3.6 billion, compared to $5.5 billion in the same period last year, which also resulted in a lower net interest expense.
- ADM repurchased 7.2 million shares during the quarter, bringing year-to-date buybacks to 11.5 million shares for about $500 million.
ADM Reports Adjusted Second Quarter 2014 Earnings Of $0.77 Per Share
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