ADM: Q2 Earnings Snapshot - The Washington Post
CHICAGO — CHICAGO — Archer Daniels Midland Co. (ADM) on Tuesday reported second-quarter earnings of $486 million.
The Chicago-based company said it had profit of 98 cents per share. Earnings, adjusted for non-recurring costs, came to $1.03 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The agribusiness giant posted revenue of $22.25 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $23.19 billion.
ADM expects full-year earnings in the range of $5.25 to $6.25 per share.
ADM shares have fallen 12% since the beginning of the year, while the S&P’s 500 index has risen 15%. The stock has declined 26% in the last 12 months.
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