Shares of Archer Daniels Midland Co. (ADM) fell 5.9% to close at $41.85 in trading on Tuesday after the food and energy processing giant reported fourth-quarter earnings shy of analysts' forecasts.
The Chicago-based company reported net income of $315 million, or 55 cents a share, down from $788 million, or $1.39 a share, in the comparable year-earlier period.
On an adjusted basis, the company reported per-share earnings of 88 cents, below the 92-cent consensus estimate of analysts polled by FactSet. Revenue totaled $15.9 billion, down from $16.1 billion and below the $16.8 billion FactSet estimate.
Those numbers were impacted by several factors, including asset impairment and restructuring charges of $67 million, or 9 cents a share, a non-cash pension settlement charge of $117 million, or 16 cents a share, and acquisition-related expenses of $12 million, or 1 cent a share.
Archer Daniels Midland shares have gained just under 10% this year.
Separately, Archer Daniels Midland's said it will pay a dividend of 35 cents a share, a 4.5% increase from last quarter's dividend of 33.5 cents. The dividend is payable on March 12, to shareholders of record on Feb. 19.
Archer Daniels Midland is a global food processing and commodities trading company. The company focuses on moving and processing crops for food and energy.