Archer-Daniels-Midland Q3 Profit Decreases, but beats estimates

(RTTNews) - Archer-Daniels-Midland (ADM) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $821 million, or $1.52 per share. This compares with $1.03 billion, or $1.83 per share, in last year's third quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $880 million or $1.63 per share for the period.

Analysts on average had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.1% to $21.70 billion from $24.68 billion last year.

Archer-Daniels-Midland earnings at a glance (GAAP) :

-Earnings (Q3): $821 Mln. vs. $1.03 Bln. last year. -EPS (Q3): $1.52 vs. $1.83 last year. -Analyst Estimates: $1.52 -Revenue (Q3): $21.70 Bln vs. $24.68 Bln last year.