Archer Daniels Midland Warns On Q1 Pre-tax Operating Profit

(RTTNews) - Archer Daniels Midland Co. (ADM) said it expects severe weather disruptions to have a negative pre-tax operating profit impact to the company of $50 million to $60 million for the first quarter. That impact will be roughly equal between Carbohydrate Solutions and Origination, with some minor impacts to other segments.

"Extreme winter weather has affected our first quarter North American operations beyond what we would experience in a typical winter," the company said.

"In March, powerful snow and rain storms early in the month and resulting flooding and its after-effects are affecting both Carbohydrates Solutions and Origination operations. Rail transportation has been disrupted throughout the region; our corn processing complex in Columbus, Nebraska, was idled due to flooding and currently is running at reduced rates; and unfavorable river conditions since December are severely limiting barge transportation movements and port activities," the company said.