Archer Daniels Midland Q3 Profit Climbs - Quick Facts

(RTTNews) - Grain processor Archer Daniels Midland Co.(ADM) Tuesday reported third-quarter profit of $747 million or $1.14 per share, higher than $476 million or $0.72 per share a year ago.

Excluding certain items, the company earned $0.81 per share. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

However, revenues declined to $18.11 billion from $21.39 billion a year ago, while Wall Street analysts' estimate stood at $21.19 billion.

The company's CEO Patricia Woertz said: "In mid-October, we completed our previously announced buyback of 18 million shares, ahead of our year-end target. Given the strength of our balance sheet and our strong cash flows, we expect to repurchase up to 10 million more shares by the end of 2014."