ADM Reports Fourth Quarter Earnings per Share of $1.84, $1.93 on an Adjusted Basis; Increasing Quarterly Dividend 12.5% to $0.45 per share
Global Trade results were lower than the strong fourth quarter of 2021, with lower ocean freight results partially offset by higher results in EMEA origination and destination marketing.
- Global Trade results were lower than the strong fourth quarter of 2021, with lower ocean freight results partially offset by higher results in EMEA origination and destination marketing.
- The business benefited from a $110 million legal recovery related to the 2019 and 2020 closure of the Reserve, Louisiana, export facility.
- In North America, strong export volumes for soybean meal and growing domestic demand for renewable diesel contributed to strong margins.
- In EMEA, oil demand powered strong rapeseed margins, more than offsetting higher energy costs compared to the prior year.