CHICAGO (AP) — CHICAGO (AP) — Archer Daniels Midland Co. (ADM) on Tuesday reported third-quarter net income of $108 million.
On a per-share basis, the Chicago-based company said it had net income of 22 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 92 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The agribusiness giant posted revenue of $20.37 billion in the period.
ADM expects full-year earnings in the range of $3.25 to $3.50 per share.
ADM shares have climbed 19% since the beginning of the year, while the S&P’s 500 index has risen 16%. The stock has risen 10% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADM at https://www.zacks.com/ap/ADM
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