Ethanol Fuels ADM's Performance
The ingredient that helps gasoline burn cleaner is also fueling jumbo profit growth for agribusiness giant Archer Daniels Midland (ADM). Boosted by swelling demand for ethanol, ADM reported its second straight year of record earnings on Aug. 1. The 26% increase in net earnings—to $1.31 billion—for the fiscal year ended June 30 was fueled largely by the company's corn-processing division, which saw higher earnings not only from ethanol, but sweeteners and starches as well.
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