Archer Daniels Midland Co. on March 12 released fourth quarter financial results, reporting improved results for its Carbohydrate Solutions segment, supported strong demand for ethanol exports and higher ethanol production.&nbsp;ADM’s Carbohydrate Solutions segment reported operating profit of $309 million for the fourth quarter of last year, up 12% when compared to the same period of 2022. The Vantage Corn Processing subsegment, which includes the company’s dry mill ethanol plants, reported a $3 million loss, an 88% improvement when compared to the prior year. ADM attributed the improvement to strong export demand and steady domestic blending that supported margins and higher ethanol production.&nbsp;For the full year 2023, the Carbohydrate Solutions segment reported $1.38 billion in operating profit, down 3% from 2022, while Vantage Corn Processors reported $46 million in operating profit, up 24%.Moving into 2024, ADM expects ethanol margins to be lower than last year.&nbsp;Overall, ADM reported segment operating profit on a GAAP basis of $1.24 billion for the fourth quarter, down 23% when compared to the same period of 2022, which earnings per share at $1.06, down 42%.&nbsp;Segment operating profit for the full year on a GAAP basis was $5.9 billion, down 10%, with earnings per share at $6.43, down 17%.&nbsp;

2024-03-12 - ADM reports improved results for ethanol operations (Ethanol Producer Magazine)

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Archer Daniels Midland Co. on March 12 released fourth quarter financial results, reporting improved results for its Carbohydrate Solutions segment, supported strong demand for ethanol exports and higher ethanol production. 

ADM reports improved results for ethanol operations

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