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Archer Daniels Midland Co
ADM reported a drop in its second-quarter profit.
Archer Daniels Midland's quarterly profit declined to $223 million, or $0.34 per share, from $284 million, or $0.43 per share, in the year-ago period. Excluding one-time items, it earned $0.46 per share.
Its revenue dropped to $22.5 billion from $22.7 billion. However, analysts were estimating earnings of $0.43 per share on revenue of $22.69 billion.
Archer Daniels Midland shares closed at $37.86 yesterday.
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