Archer-Daniels-Midland Q3: Sales Miss, Bottomline Beat, Lower Ag Services Results & More
Portfolio Pulse from Nabaparna Bhattacharya
Archer-Daniels-Midland Company (NYSE:ADM) reported Q3 FY23 sales of $21.695 billion, missing the consensus of $23.68 billion. However, its adjusted EPS of $1.63 beat the analyst consensus of $1.52. The company's Ag Services and Oilseeds segment were lower year-over-year, while the Carbohydrate Solutions segment saw higher results. Nutrition results were significantly lower due to lower market demand for plant-based proteins in meat alternatives. ADM shares are trading lower by 2.43% at $70.64.
October 24, 2023 | 4:49 pm
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Archer-Daniels-Midland's Q3 sales missed expectations, but EPS beat estimates. Lower results in Ag Services and Oilseeds segment and lower demand for plant-based proteins in meat alternatives impacted the results. ADM shares are trading lower.
Archer-Daniels-Midland's Q3 sales missed the consensus, which could negatively impact investor sentiment and put downward pressure on the stock. However, the company's EPS beat estimates, which could provide some support. The lower results in the Ag Services and Oilseeds segment and lower demand for plant-based proteins in meat alternatives could be concerning for investors, potentially leading to a sell-off in the stock.
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