WASHINGTON (dpa-AFX) - Archer-Daniels-Midland (ADM) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $295 million, or $0.61 per share. This compares with $729 million, or $1.42 per share, last year.
Excluding items, Archer-Daniels-Midland reported adjusted earnings of $338 million or $0.70 per share for the period.
Analysts on average had expected the company to earn $0.67 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 7.7% to $20.175 billion from $21.847 billion last year.
Archer-Daniels-Midland earnings at a glance (GAAP) :
-Earnings: $295 Mln. vs. $729 Mln. last year. -EPS: $0.61 vs. $1.42 last year. -Revenue: $20.175 Bln vs. $21.847 Bln last year.
-Guidance: Full year EPS guidance: $4.00 to $4.75
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