Archer Daniels Midland reported steeper-than-expected drops in revenue and profit in its third quarter, as the grain trader and processor was hurt by weak ethanol margins and lower North American export volumes.
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Shares fell 2.8% in premarket trading.
ADM, among the world's largest agri-businesses and a major ethanol producer, has been buffeted recently by lower ethanol-production margins and sluggish overseas demand for North American crops.
The Chicago company has also faced weakness in its grain-trading business as a strong U.S. dollar and large crops in South America crimped export demand for North American grain.
In the third quarter, revenue in ADM's corn-processing business fell 17% to $2.52 billion.
Revenue in ADM's agricultural-services segment fell 6.2% to $6.6 billion.
ADM's oilseed-processing business posted a 12% drop in revenue to $6.75 billion.
The wild flavors and specialty ingredients segment was a bright spot, as revenue more than doubled to $588 million in the quarter.
Overall, the company posted earnings of $252 million, or 41 cents a share, down from $747 million, or $1.14 a share, a year earlier.
The quarter included $65 million in impairment, exit and restructuring costs.
Excluding those charges and other special items, per-share earnings fell to 60 cents a share from 86 cents a year earlier.
Revenue slid 8.6% to $16.57 billion.
Analysts had projected per-share earnings of 70 cents a share on revenue of $17.77 billion.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com