Archer Daniels Midland Q2 Adj. Profit Tops View, But Revenues Miss - Quick Facts

(RTTNews) - Archer Daniels Midland Co. (ADM) reported second-quarter net earnings attributable to the company of $223 million, or $0.34 per share, down from $284 million or $0.43 per share in the same period one year earlier.

Adjusted earnings per share were $0.46, up from $0.38 in the same period last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items. Segment operating profit was $647 million, up 19 percent from the prior year. Adjusted earnings per share increased primarily due to higher segment operating profit.

Net sales and other operating income declined to $22.54 billion from $22.68 billion in the prior year quarter. Seven analysts had consensus revenue estimate of $22.87 billion for the quarter.