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Archer-Daniels-Midland Company (NYSE:ADM) shares moved higher on Tuesday after the company reported stronger-than-expected quarterly results.
The agricultural commodities giant benefited from improved segment performance and steady demand across key business lines.
Quarterly Details
The company reported first-quarter adjusted earnings per share of 71 cents, beating the analyst consensus estimate of 66 cents. Quarterly sales of $20.490 billion outpaced the Street view of $20.216 billion.
Gross profit increased to $1.222 billion, compared with $1.180 billion a year ago. For the first quarter, earnings before income taxes were $384 million, compared to the …
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