Archer-Daniels-Midland Co.
(NYSE:ADM) stock traded higher Tuesday after the agricultural commodities and food processing company reported second-quarter results that topped Wall Street expectations and raised its full-year earnings outlook above analyst estimates.
Adjusted earnings were $1.84 per share, beating the consensus estimate of $1.44.
Revenue increased to $22.7 billion, ahead of analysts' expectations of $21.8 billion.
Total segment operating profit surged 75% year over year to $1.5 billion, driven by strong execution, favorable biofuels margins and continued momentum in the Nutrition business.
