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March 25, 2019 | Reuters

ADM: Flooding to Cut First Quarter Operating Profit by $50-$60M

Floods affecting Origination and Carboyhdate Solutions business units

Flooding and severe winter weather in the U.S. Midwest will reduce Archer Daniels Midland Co’s first-quarter operating profit by $50 million to $60 million, the U.S. grains trader said on Monday.

Reuters reports that for ADM, the floods are affecting two crucial business units: Origination, which buys, stores and transports grains; and Carbohydrate Solutions, which mills corn and wheat, the company said. 

The $50 million to $60 million impact on pre-tax operating profit will be roughly equal between the segments, with minor impacts to other units, ADM said.

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