Archer-Daniels-Midland (ADM) has reported its third-quarter earnings, showing a decrease compared to the same period last year, consistent with Wall Street forecasts.
The company's net income for the quarter was $18 million, translating to $0.04 per share, a significant decline from $821 million, or $1.52 per share, reported in the third quarter of the previous year.
On an adjusted basis, excluding special items, Archer-Daniels-Midland posted earnings of $530 million, or $1.09 per share, aligning with the average earnings per share estimate of $1.09 projected by analysts, as compiled by Thomson Reuters. Analysts’ forecasts typically do not consider non-recurring items.
Revenue for the quarter dropped by 8.1%, totaling $19.937 billion, down from $21.695 billion in the prior year.
Summary of Archer-Daniels-Midland's third-quarter financial performance (GAAP):
- Earnings: $18 million compared to $821 million last year.
- Earnings Per Share (EPS): $0.04 versus $1.52 last year.
- Revenue: $19.937 billion compared to $21.695 billion the previous year.