Archer-Daniels-Midland rises after raising annual profit outlook
ADM•Second-quarter results beat estimates
ADM posts Q2 profit of $1.84 per share, beating estimates of $1.44 per share - LSEG data.
As of last close, the stock is up about 36% year to date.
Shares rise after profit outlook increase
Shares of grain trader Archer-Daniels-Midland ADM.N rise 3.9% to $81.17 premarket.
The company raises its full-year adjusted profit forecast to $5.15 to $5.60 compared with a prior forecast of $4.15 to $4.70, betting on improvement in its crushing and ethanol businesses and clarity over the U.S. biofuel blending mandate.
