Archer Daniels Midland (ADM) Q2 Earnings and Revenues Miss Estimates

Financial Performance - Archer Daniels Midland (ADM) reported quarterly earnings of $1.03 per share, missing the Zacks Consensus Estimate of $1.23 per share, and down from $1.89 per share a year ago, representing an earnings surprise of -16.26% [1] - The company posted revenues of $22.25 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.08%, and down from year-ago revenues of $25.19 billion [1] Market Performance - ADM shares have declined approximately 12.4% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [2] - The current status of estimate revisions for ADM is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.40 on revenues of $21.12 billion, and for the current fiscal year, it is $5.54 on revenues of $88.71 billion [4] - The Agriculture - Operations industry, to which ADM belongs, is currently in the top 35% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [4]