DECATUR, Ill. (AP) — Archer Daniels Midland Co. (ADM) on Tuesday reported profit of $747 million in its third quarter.
On a per-share basis, the Decatur, Illinois-based company said it had profit of $1.14. Earnings, adjusted for non-recurring gains, came to 81 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The agribusiness giant posted revenue of $18.12 billion in the period, which missed Street forecasts. Analysts expected $21.24 billion, according to Zacks.
ADM shares have risen nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 9 percent. The stock has increased 16 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. ADM stock research report from Zacks.