Archer-Daniels beats by $0.13, misses on revs :
- Reports Q1 (Sep) earnings of $0.59 per share, $0.13 better than the Capital IQ Consensus of $0.46; revenues fell 4.4% year/year to $15.83 bln vs the $16.28 bln Capital IQ Consensus.
- "Ag Services results were driven by U.S. exports that surged through the quarter, creating improved merchandising opportunities as the global market relied heavily on U.S. exports of corn and soybeans. Results for Corn included strong performance in North American sweeteners and starches, growth from our international corn operations and steady results for bioproducts. Oilseeds results were impacted by significantly lower global soy crushing margins, weaker origination results in Brazil and the unusual equity loss from our Wilmar investment. WFSI results included strong growth from WILD Flavors with mixed results from our specialty ingredients businesses."
- "With improving market conditions and a large U.S. harvest, combined with the team's solid execution capabilities, we feel good about the remainder of the year and a stronger 2017."
No comments:
Post a Comment