Archer-Daniels-Midland third-quarter profit falls, in line with estimates

WASHINGTON (dpa-AFX) – Archer-Daniels-Midland (ADM) reported third-quarter profits down from the same period last year, in line with Street estimates.

The company’s net income was $18 million, or $0.04 per share. That compares to $821 million, or $1.52 per share, in the third quarter of last year.

Excluding items, Archer-Daniels-Midland reported adjusted earnings of $530 million, or $1.09 per share for the period.

Analysts on average expected a profit of $1.09 per share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter fell 8.1 percent to $19.937 billion from $21.695 billion last year.

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

-Revenues (Q3): $18 million. against $821 million. last year. -EPS (Q3): $0.04 versus $1.52 last year. -Revenue (Q3): $19.937 billion versus $21.695 billion last year.