date:May 03, 2013
Last summers drought contributed to a 33% decline in first-quarter earnings at Archer Daniels Midland Co. Net income in the period ended March 31 was $269 million, equal to 41c per share on the common stock, down from $399 million, or 60c per share, in the first quarter of fiscal 2012. ADMs adjusted earnings per share, which excludes the impact of LIFO, restructuring costs and other adjustments, was 48c, down 38% from a year ago.
Segment operating profit for the first quarter was $630 million,