CHICAGO (AP) 鈥� CHICAGO (AP) 鈥� Archer Daniels Midland Co. (ADM) on Tuesday reported second-quarter net income of $908 million.
On a per-share basis, the Chicago-based company said it had profit of $1.87. Earnings, adjusted for non-recurring gains, were $1.84 per share.
The agribusiness giant posted revenue of $22.68 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $22.38 billion.
ADM expects full-year earnings in the range of $5.15 to $5.60 per share.
ADM shares have climbed 36% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has increased 45% in the last 12 months.
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