ADM Ag Services and Oilseeds Crossed Record $2B Profit Mark in Q4 Results
ADM announced a 36 percent jump in Q4 profit due to growth in its agricultural services and nutrition businesses. Additionally, the company’s Ag Services and Oilseeds division crossed the $2 billion profit mark on the back of strong demand and the benefits of a flexible global footprint.
Likewise the Nutrition business saw 37 percent annual operating profit growth, with expectations that the division will continue to deliver solid revenue expansion and profit growth for 2021.
Strong global demand, particularly from China, drove significantly higher results year-on-year for the Ag Services business as it managed risk and utilized its global network. Crushing also delivered higher results compared to the year before on tight soybean supplies and high demand for both meal and vegetable oils. Animal nutrition was also significantly higher compared to the prior year, driven by strong performance in Asia and EMEAI and improvements in amino acid results, partially offset by currency effects in Latin America.