ADM misses 1Q profit forecasts

Markets Associated Press

Archer Daniels Midland Co. (ADM) on Tuesday reported first-quarter earnings of $339 million.

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On a per-share basis, the Chicago-based company said it had net income of 59 cents. Earnings, adjusted for non-recurring costs, were 60 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The agribusiness giant posted revenue of $14.99 billion in the period.

ADM shares have risen slightly since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 7 percent. The stock has climbed 14 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ADM at https://www.zacks.com/ap/ADM

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Keywords: Archer Daniels Midland, Earnings Report