NEW YORK (TheStreet) -- Archer-Daniels-Midland Co. (ADM) shares are up 4.8% to $49.52 in early market trading on Tuesday after the agricultural commodities processor released its third quarter financial results.
The company reported a third quarter profit of $747 million, or 81 cents per diluted share, almost double the 46 cents per diluted share it reported during the same period last year, and 8 cents better than analysts were expecting this year.
Revenue for the period decreased to $18.18 billion from $21.39 billion last year, below analysts' $21.1 billion expectations.
The company was able to beat earnings estimates despite weak sales due in part to operating profit growth in it agricultural-services and corn-processing sectors.
TheStreet Ratings team rates ARCHER-DANIELS-MIDLAND CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCHER-DANIELS-MIDLAND CO (ADM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow."