This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Archer Daniels Plows Past Views

Shares of Archer Daniels Midland (ADM - Get Report) climbed early Tuesday after the agricultural processor topped third-quarter earnings estimates, helped by soaring prices.

The Decatur, Ill., company reported a third-quarter profit of $441 million, or 68 cents a share, up from $403 million, or 61 cents a share, a year earlier. Revenue rose to $12.83 billion from $9.45 billion the prior year.

The results handily beat analysts' average forecast for earnings of 59 cents a share and sales of $10.64 billion.

Sales benefited from sharply higher commodity prices, which lifted selling prices. ADM said increased selling prices accounted for about 75% of its sales increase, while the remainder was due to higher volumes, mainly in vegetable oil and wheat.

Among ADM's segments, growth in the oilseeds processing and agricultural services segment helped offset a profit decline in its corn processing division. ADM -- a top producer of ethanol, a fuel derived from corn -- said the 12% drop in the division's profits reflected lower ethanol sales prices, higher corn costs and tough comparisons from year-ago strength.

Profits in oilseeds processing rose 23% amid improved margins, ADM said. In agricultural services, earnings nearly doubled due to higher grain merchandising and handling results.

Shares of ADM jumped $2.06, or 6%, to $36.58 in early trading Tuesday.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ADM $48.35 0.29%
AAPL $132.89 2.00%
FB $82.78 1.50%
GOOG $562.49 -0.45%
TSLA $232.50 6.40%

Markets

DOW 18,149.54 +69.40 0.38%
S&P 500 2,121.66 +3.97 0.19%
NASDAQ 5,106.4180 +14.3330 0.28%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs