Archer-Daniels-Midland Q3 Profit Drops, Inline With Estimates

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

The company's bottom line came in at $18 million, or $0.04 per share. This compares with $821 million, or $1.52 per share, in last year's third quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $530 million or $1.09 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.1% to $19.937 billion from $21.695 billion last year.

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

-Earnings (Q3): $18 Mln. vs. $821 Mln. last year. -EPS (Q3): $0.04 vs. $1.52 last year. -Revenue (Q3): $19.937 Bln vs. $21.695 Bln last year.