ADM quarterly profit beats on strong growth in oilseeds unit [Reuters]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: Reuters
ADM quarterly profit beats on strong growth in oilseeds unit | Reuters Reuters Staff 1 Min Read (Reuters) - Archer Daniels Midland Co’s ( ADM.N ) quarterly profit beat Wall Street estimates by a wide margin, driven by higher returns from its oilseeds processing business. Profit in the business jumped 70 percent to $341 million in the second-quarter due to strong demand for soybean meal. With roughly half of its $14.1 billion global oilseed crushing business based in North America, ADM has also been benefiting from strong processing margins at home. Nutrition business profit rose about 21 percent to $114 million. Net profit attributable to ADM rose to $566 million, or $1 per share, in the second quarter ended June 30, from $276 million, or 48 cents, a year earlier. Excluding items, the company earned $1.02 per share, beating analysts’ estimates of 77 cents per share, according to Thomson Reuters I/B/E/S. Total revenue rose 14.2 percent to $17.07 billion. The company’s shares were up 2
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ADM
Earnings
- 3/12/24 - Miss
ADM
Sec Filings
- 4/22/24 - Form 8-K
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- ADM's page on the SEC website