Archer-Daniels-Midland Company (ADM) has delivered strong first-quarter results as both revenue and earnings exceeded analysts’ expectations. The multinational food processing company engages in the procurement, transportation, storage, processing and selling of agricultural commodities, products and ingredients. Adjusted earnings per share (EPS) of $1.90 stood above the Street’s estimate of $1.40 per share. The company had reported earnings of $1.39 in the same quarter last year. Meanwhile, revenues in the quarter climbed 25.2% year-over-year to $23.7 billion, surpassing expectations of $20.6 billion. Segment-wise, net sales of Ag Services and Oilseeds increased 21.6% on the back of strong demand for Ag Services, vegetable oil and higher equity earnings from Wilmar.
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Archer Daniels Midland (NYSE:ADM)
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