29.04.2014 13:34:16
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Archer-Daniels-Midland Q1 Profit Slides - Quick Facts
(RTTNews) - Grain processor Archer-Daniels-Midland (ADM) Tuesday said first-quarter net earnings attributable to the company were $267 million or $0.40 per share, compared to $269 million or $0.41 per share in the same period one year earlier.
Adjusted earnings per share were $0.55, while it totaled $0.46 last year. On average, 14 analysts polled by Thomson Reuters expected earnings of $0.74 per share. Analysts estimates typically exclude special items.
Revenue dropped to $20.7 billion from $21.73 billion. Analysts expected revenues of $22.04 billion.
ADM Chairman and CEO Patricia Woertz said, "Our businesses delivered mixed results in the first quarter. Our Ag Services business again generated weak results due to a low margin environment as well as logistics and weather challenges in the U.S. Continued strong performance in Corn was supported by the robust ethanol market.
Woertz added that the sustained, solid results in Oilseeds were driven by good margins and volumes in North and South American soybean crushing.
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