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Archer Daniels Midland Co
ADM reported a gain in its third-quarter profit.
Archer Daniels Midland's quarterly profit surged to $476 million, or $0.72 per share, versus a year-ago profit of $182 million, or $0.28 per share. Its adjusted earnings fell to $0.46 per share from $0.53 per share.
Its revenue declined to $21.4 billion from $21.8 billion. However, analysts were estimating adjusted earnings of $0.46 per share on revenue of $21.1 billion.
Archer Daniels Midland shares closed at $39.84 yesterday.
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