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2 years ago
ADM profit drops on weak ethanol margins, limited U.S. exports
November 3, 2015 / 12:17 PM / 2 years ago

ADM profit drops on weak ethanol margins, limited U.S. exports

CHICAGO, Nov 3 (Reuters) - U.S. agribusiness Archer Daniels Midland on Tuesday reported a lower quarterly profit on weak ethanol margins and as a strong dollar and ample South American crop supplies limited grain exports from the United States.

Chicago-based ADM reported a net third-quarter profit of $252 million, or 41 cents per share, down from $747 million, or $1.14 per share, a year earlier.

Excluding one-time items, earnings fell to 60 cents per share from 86 cents a year ago, Analysts expected 70 cents per share, according to Thomson Reuters I/B/E/S.

Reporting by Karl Plume

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