Archer Daniels Midland Q2 Earnings and Revenues Miss Estimates
Archer Daniels Midland (NYSE: ADM) came out with quarterly earnings of $1.03 per share, missing the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.89 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -16.26%. A quarter ago, it was expected that this agribusiness giant would post earnings of $1.35 per share when it actually produced earnings of $1.46, delivering a surprise of 8.15%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
ADM, which belongs to the Zacks Agriculture – Operations industry, posted revenues of $22.25 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.08%. This compares to year-ago revenues of $25.19 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the …
Full story available on Benzinga.com
