×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: crops | farms | ADM | earnings

ADM Adjusted Q3 Earnings Fall; Revenues Top Estimates

Tuesday, 29 October 2013 11:05 AM EDT

Agribusiness group Archer Daniels Midland Co. said that adjusted third-quarter earnings fell as crop supplies remained tight following last year's historic U.S. drought.

ADM, one of the world's top grain traders, reported adjusted earnings of 46 cents per share, down from 53 cents in the same period last year. Analysts expected 47 cents, according to Thomson Reuters I/B/E/S.

Net earnings rose to $476 million, or 72 cents per share, from $182 million, or 28 cents per share, a year ago.

Revenue totaled $21.39 billion, down from $21.81 billion a year ago, but above expectations of $20.62 billion.

ADM's earnings for crop merchandising and handling declined $104 million to $4 million.

"Low U.S. crop supplies reduced export volumes and ... results from international merchandising were weak," the company said.

ADM is among the four large players known as the "ABCD" companies that dominate the flow of agricultural goods around the world. The others are Bunge Ltd., Cargill Inc. and Louis Dreyfus Corp.

© 2024 Thomson/Reuters. All rights reserved.


InvestingAnalysis
Agribusiness group Archer Daniels Midland Co. said that adjusted third-quarter earnings fell as crop supplies remained tight following last year's historic U.S. drought.
crops,farms,ADM,earnings
161
2013-05-29
Tuesday, 29 October 2013 11:05 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved