Archer-Daniels-Midland Q2 Profit Decreases, but beats estimates

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

The company's earnings came in at $927 million, or $1.70 per share. This compares with $1.24 billion, or $2.18 per share, in last year's second quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $1.03 billion or $1.89 per share for the period.

Analysts on average had expected the company to earn $1.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.7% to $25.19 billion from $27.28 billion last year.

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

-Earnings (Q2): $927 Mln. vs. $1.24 Bln. last year. -EPS (Q2): $1.70 vs. $2.18 last year. -Analyst Estimates: $1.60 -Revenue (Q2): $25.19 Bln vs. $27.28 Bln last year.