logo
Share SHARE
FONT-SIZE Plus   Neg

Archer Daniels Midland Q3 Profit Falls - Quick Facts

Archer Daniels Midland Co. (ADM) reported third quarter net earnings attributable to ADM of $399 million or $0.60 per share, lower than $578 million or $0.86 per share a year ago.

Adjusted earnings per share dropped to $.78 from $.89 in the same quarter a year ago.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share. Analysts' estimates typically exclude special items.

Net sales and other operating income were up to 21.16 billion from $20.08 billion in the prior-year quarter. Analysts expected revenues of $21.38 billion.

"This quarter, we delivered very good results despite difficult margin environments, particularly in ethanol and European oilseeds," said ADM Chairman and CEO Patricia Woertz. "The strong third quarter last year set a high bar, and this quarter represents a solid performance by the team."

"Looking ahead, planting is underway in North America, and we're encouraged by the projected corn and soybean acreage," added Woertz.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT