NEW YORK (TheStreet) -- Shares of Archer Daniels Midland Co. (ADM) are higher by 3.88% to $48.77 in early afternoon trading on Tuesday, after the company reported an increase in net income to $533 million, or 81 cents per share for the 2014 second quarter, compared to $223 million, or 34 cents per share for the previous year's second quarter.
Archer Daniels, which processes oilseeds, corn, cocoa, wheat, and other agricultural commodities, posted an increase in adjusted earnings to 77 cents per share from 46 cents for the 2013 second quarter.
The company said earnings grew as a result of a recovery in U.S. grain export volumes.
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However, Archer Daniels said revenue declined by 4.6% from the year earlier to $21.5 billion for the most recent quarter.
Separately, TheStreet Ratings team rates ARCHER-DANIELS-MIDLAND CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCHER-DANIELS-MIDLAND CO (ADM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."