NEW YORK (TheStreet) -- Shares of Archer Daniels Midland (ADM - Get Report) are down by 6.76% to $43.15 in early morning trading on Tuesday, following the release of the company's 2015 third quarter earnings results.
The Decatur, IL-based agricultural commodity processor reported third quarter earnings of 60 cents per diluted share, 9 cents lower than the 69 cents per share analysts' were expecting the company to report.
Revenue for the period fell by 8.6% year over year to $16.57 billion versus analysts' consensus $17.67 billion estimate for the quarter.
Weak ethanol profits due to falling exports and strong South American crop supplies is responsible for the disappointing quarter, the company said.
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 several positive factors, 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 reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.ADM data by YCharts