Archer Daniels Midland Company (NYSE:ADM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.13%.
Archer Daniels Midland Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 38.46% to $0.48 in the quarter versus EPS of $0.78 in the year-earlier quarter.
Revenue: Rose 2.7% to $21.73 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Archer Daniels Midland Company reported adjusted EPS income of $0.48 per share. By that measure, the company missed the mean analyst estimate of $0.52. It beat the average revenue estimate of $21.41 billion.
Quoting Management: “As expected, this was a challenging quarter, with agricultural services negatively impacted by the ongoing effects of last summer’s U.S. drought,” said ADM Chairman and CEO Patricia Woertz. “In oilseeds, our earnings were reduced by challenges in Brazil and depressed margins in cocoa. Our ethanol business improved as declining inventories supported overall industry margins, and we began to see positive results from the actions we’ve been taking to improve the profitability of that business.”
Key Stats (on next page)…