Archer-Daniels Midland Q3 Adj EPS $1.63 Beats $1.52 Estimate, Sales $21.70B Miss $23.68B Estimate
Portfolio Pulse from Benzinga Newsdesk
Archer-Daniels Midland (NYSE:ADM) reported Q3 earnings of $1.63 per share, beating the analyst consensus estimate of $1.52 by 7.24%. However, this is a 12.37% decrease from the same period last year. The company's quarterly sales of $21.70 billion missed the analyst consensus estimate of $23.68 billion by 8.38%, marking a 12.11% decrease from the same period last year.
October 24, 2023 | 11:02 am
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Archer-Daniels Midland's Q3 earnings beat estimates but sales missed, and both are down from last year.
Archer-Daniels Midland's earnings beat estimates, which is positive for the stock. However, the company's sales missed estimates and both earnings and sales are down from the same period last year, which is negative for the stock. Therefore, the stock is likely to go down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100