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Archer Daniels Midland Reports a Drop in Profit; Beats Estimates (ADM)

By Dividend.com,  October 31, 2012, 09:55:17 AM EDT

On Tuesday agricultural commodity processor Archer Daniels Midland Company ( ADM ) reported a steep drop in third quarter net income on flat revenues.

The Decatur, Illinois based company reported third quarter net income of $182 million, or 28 cents per share, a 60% decrease from $460 million, or 68 cents per share, a year earlier. Adjusting for one time charges, adjusted earnings per share for the quarter were 50 cents, down from 58 cents a year ago. Analysts polled by Thomson Reuters expected adjusted EPS to be just 35 cents.

Third quarter revenues were $21.80 billion, slightly down from $21.90 billion a year ago. Wall Street analysts expected higher revenues of $22.00 billion for the quarter.

Archer Daniels Midland shares were mostly flat in Wednesday morning trading.

Archer Daniels Midland Company ( ADM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ADM



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