Archer-Daniels-Midland Q2 Sales Miss Estimate, Bottomline Tops Consensus
Portfolio Pulse from Lekha Gupta
Archer-Daniels-Midland Company (ADM) reported Q2 FY23 sales of $25.19 billion, missing the consensus of $25.90 billion. Revenues from Ag Services and Oilseeds fell by 7% Y/Y, Carbohydrate Solutions declined by 10% Y/Y, and Nutrition fell by 7% Y/Y. However, the company's adjusted EPS of $1.89 beat the analyst consensus of $1.60. ADM shares are trading higher by 0.73% at $83.72.
July 25, 2023 | 2:35 pm
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ADM's Q2 FY23 sales missed estimates but its adjusted EPS beat the consensus. Despite the mixed results, the company's shares are trading higher.
ADM's Q2 sales fell short of estimates, indicating a potential slowdown in its business. However, the company's adjusted EPS exceeded expectations, suggesting it is still able to maintain profitability. This mixed performance could lead to uncertainty among investors, but the current increase in the company's share price suggests the market is reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100