ADM Rises After Revising Years of Internal Unit Sales (3)

Archer-Daniels-Midland Co. investors appeared to breathe a sigh of relief Tuesday, driving the commodity giant’s shares higher after its delayed annual report didn’t deliver the kind of bombshell financial revelations some had feared.

In its annual report, ADM revised its intersegment sales for the last three years following an internal probe into its financial reporting and disclosed a $137 million impairment charge related to its animal nutrition unit. ADM confirmed in its annual filing that the various adjustments didn’t impact overall earnings.

“ADM could have been worse,” Vital Knowledge wrote in a note after the company provided a long-awaited update ...