Archer Daniels Midland Q2 Profit Down - Quick Facts

(RTTNews) - Archer Daniels Midland Co. (ADM) reported that its net earnings attributable to the company for the second-quarter ended June 30, 2015 decreased to $386 million from last year's $533 million, with earnings per share declining to $0.62 from $0.81 in the same quarter last year.

Quarterly adjusted earnings per share was $0.60, down from $0.79 in the same period last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted earnings per share of $0.60 excluded approximately $0.11 of gains on asset sales and acquisition-related revaluations, $0.06 of LIFO charges, $0.04 of charges related to asset impairments and restructurings, and a $0.01 gain related to effective tax rate adjustment.

Revenues for the quarter dropped to $17.186 billion from $21.494 billion last year. Wall Street analysts had a consensus revenue estimate of $20.87 billion for the quarter.