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
U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks. HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had...
comments powered by Disqus
Follow RTT