Archer Daniels Midland Co. ADM reported Tuesday second-quarter profit that beat expectations but revenue that fell short, amid softer demand within parts of its nutrition and flavors business. Net income fell to $927 million, or $1.70 a share, from $1.24 billion, or $2.18 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.89 beat the FactSet consensus of $1.59. Revenue fell 7.7% to $25.19 billion, below the FactSet consensus of $25.
ADM reported Tuesday second-quarter profit that beat expectations but revenue that fell short, amid softer demand within parts of its nutrition and flavors business. Net income fell to $927 million, or $1.70 a share, from $1.24 billion, or $2.18 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.89 beat the FactSet consensus of $1.59. Revenue fell 7.7% to $25.19 billion, below the FactSet consensus of $25.