Archer-Daniels-Midland Q2 Profit Decreases, Misses Estimates

(RTTNews) - Archer-Daniels-Midland (ADM) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $486 million, or $0.98 per share. This compares with $927 million, or $1.70 per share, in last year's second quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $508 million or $1.03 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.7% to $22.248 billion from $25.190 billion last year.

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

-Earnings (Q2): $486 Mln. vs. $927 Mln. last year. -EPS (Q2): $0.98 vs. $1.70 last year. -Revenue (Q2): $22.248 Bln vs. $25.190 Bln last year.

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