Archer-Daniels-Midland Q1 Profit Increases, beats estimates

(RTTNews) - Archer-Daniels-Midland (ADM) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.05 billion, or $1.86 per share. This compares with $0.69 billion, or $1.22 per share, in last year's first quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $1.08 billion or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.3% to $23.66 billion from $18.89 billion last year.

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

-Earnings (Q1): $1.05 Bln. vs. $0.69 Bln. last year. -EPS (Q1): $1.86 vs. $1.22 last year. -Analyst Estimate: $1.41 -Revenue (Q1): $23.66 Bln vs. $18.89 Bln last year.