Archer-Daniels-Midland Q1 Profit Increases, beats estimates

(RTTNews) - Archer-Daniels-Midland (ADM) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.170 billion, or $2.12 per share. This compares with $1.054 billion, or $1.86 per share, in last year's first quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $1.151 billion or $2.09 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $24.072 billion from $23.650 billion last year.

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

-Earnings (Q1): $1.170 Bln. vs. $1.054 Bln. last year. -EPS (Q1): $2.12 vs. $1.86 last year. -Analyst Estimate: $1.78 -Revenue (Q1): $24.072 Bln vs. $23.650 Bln last year.