ADM Riding Ethanol Wave
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Posted by Cindy Zimmerman – August 2nd, 2006
Lots of stories out about Archer Daniels Midland’s big fourth quarter profits on the strength of ethanol. ADM’s quarterly profit more than doubled from last year to $410 million, or 62 cents per share on “strong results from oilseed processing and ethanol.”
Overall, ADM shares have risen 77 percent this year. Earnings from its bioproducts division, which includes ethanol, catapulted to $174 million from $25 million last year.
Shoulda bought that ADM stock in January …