Archer-Daniels-Midland Q3 Profit Increases, beats estimates

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

The company's bottom line totaled $1.03 billion, or $1.83 per share. This compares with $526 million, or $0.93 per share, in last year's third quarter.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $1.05 billion or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.3% to $24.68 billion from $20.34 billion last year.

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

-Earnings (Q3): $1.03 Bln. vs. $526 Mln. last year. -EPS (Q3): $1.83 vs. $0.93 last year. -Analyst Estimate: $1.44 -Revenue (Q3): $24.68 Bln vs. $20.34 Bln last year.