Why Archer Daniels Midland (ADM) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Archer-Daniels-Midland Company (ADM) are down -2.95% to $43.07 after the agribusiness company today reported financial results for the first quarter that were lower-than-expected as poor margins and harsh U.S. weather hurt its core grain-trading business, Reuters reports.

ADM said its grain trading business was stuck in a "low-margin environment" during the first quarter after weakness in the agricultural services unit contributed to a 27% loss in fourth-quarter earnings, Reuters noted.

The company reported net earnings of $267 million, or 40 cents per share, down from $269 million, or 41 cents, a year earlier.

Adjusted earnings were 55 cents per share, up from 46 cents a year ago. Analysts had expected 74 cents, according to Thomson Reuters I/B/E/S.

Revenue was $20.7 billion, down from $21.7 billion a year earlier and below analysts' estimates for $22 billion.

 Must Read: Warren Buffett's 10 Favorite Growth Stocks


STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

ADM Chart

ADM data by YCharts

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months.Learn more.

More from Markets

Global Stocks Rebound But US-China Trade War Concerns Keep Investors on Edge

Global Stocks Rebound But US-China Trade War Concerns Keep Investors on Edge

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

Global Markets Hit Hard; AMC Entertainment Sells Stake in Ad Unit -- ICYMI

Global Markets Hit Hard; AMC Entertainment Sells Stake in Ad Unit -- ICYMI

CVS, Walgreens and Citigroup: Cramer's 'Off the Charts'

CVS, Walgreens and Citigroup: Cramer's 'Off the Charts'

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China