Archer-Daniels-Midland Q1 Profit Decreases, but beats estimates

(RTTNews) - Archer-Daniels-Midland (ADM) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $729 million, or $1.42 per share. This compares with $1.170 billion, or $2.12 per share, in last year's first quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $750 million or $1.46 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.2% to $21.847 billion from $24.072 billion last year.

Archer-Daniels-Midland earnings at a glance (GAAP) :

-Earnings (Q1): $729 Mln. vs. $1.170 Bln. last year. -EPS (Q1): $1.42 vs. $2.12 last year. -Revenue (Q1): $21.847 Bln vs. $24.072 Bln last year.

-Guidance: Full year EPS guidance: $5.25 to $6.25