Archer-Daniels misses by $0.10, misses on revs
- Reports Q3 (Sep) earnings of $0.45 per share, excluding non-recurring items, $0.10 worse thanthe Capital IQ Consensus of $0.55; revenues fell 6.3% year/year to $14.83 bln vs the $16 bln Capital IQ Consensus.
- "Our third quarter results were below our expectations, as the operating environment in our Ag Services and Oilseeds businesses was more challenging than anticipated," said ADM Chairman and CEO Juan Luciano. "Through the quarter, we took several actions to be even more competitive in the future, including: restructuring our global workforce; reconfiguring the Peoria ethanol complex; working to complete several operational start-ups; driving additional asset monetizations; and further reducing costs through our Project Readiness initiative.
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