Archer Daniels Midland
The 10-second takeaway
For the quarter ended Sep. 30 (Q1), Archer Daniels Midland met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share shrank significantly.
Margins shrank across the board.
Archer Daniels Midland recorded revenue of $21.81 billion. The seven analysts polled by S&P Capital IQ anticipated a top line of $21.87 billion on the same basis. GAAP reported sales were 0.4% lower than the prior-year quarter's $21.90 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.50. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.48 per share. GAAP EPS of $0.28 for Q1 were 59% lower than the prior-year quarter's $0.68 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 3.7%, 100 basis points worse than the prior-year quarter. Operating margin was 1.9%, 100 basis points worse than the prior-year quarter. Net margin was 0.8%, 130 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $23.81 billion. On the bottom line, the average EPS estimate is $0.59.
Next year's average estimate for revenue is $92.68 billion. The average EPS estimate is $2.40.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Archer Daniels Midland is hold, with an average price target of $30.25.
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