Archer Daniels Misses Second-quarter Earnings And Revenue Expectations

By Markets MarketWatch Pulse

Archer Daniels Midland Co. earnings fell to $284 million, or 48 cents per share, from $386 million, or 62 cents per share in the year-earlier period. Adjusted earnings per share were 41 cents, compared with the FactSet consensus of 45 cents. Revenue fell to $15.6 billion from $17.2 billion, below the FactSet consensus of $16.9 billion. The company said that after a "challenging" first half of 2016, with improved fundamentals it expected a "more favorable second half of the year." The stock gained 9.9% over the last three months, compared with a 4.3% rise in the S&P 500 .

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