- Archer-Daniels-Midland Co ADM reported third-quarter FY21 sales growth of 34.5% year-on-year, to $20.3 billion, beating the analyst consensus of $17.9 billion.
- Revenues from Ag Services and Oilseeds rose 36% Y/Y, Carbohydrate Solutions increased 38.8%, and Nutrition climbed 16.9%.
- The gross profit increased 27.3% Y/Y to $1.3 billion with a margin of 6.5%.
- The Segment operating margin was 4.9%, and Segment operating income for the quarter rose 10.6% to $1 billion.
- Adjusted EPS of $0.97 beat the analyst consensus of $0.89.
- The company held $1.1 billion in cash and equivalents as of September 30, 2021.
- Looking ahead, the company said it remains optimistic in sustainable earnings growth in the medium term.
- Price Action: ADM shares are trading lower by 1.73% at $65.48 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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