Adjusted EPS for the third quarter came in at $1.86, which was $0.45 above estimates. Meanwhile, a 21.3% jump in revenue from the prior year quarter to $24.68B easily beat expectations, coming in $2.47B above the Wall Street consensus. Both Ag Services and Carbohydrate Solutions results were cited as “significantly higher than the third quarter of 2021.” Improving margins in global ocean freight, durable global demand for meal and oil, and strong ethanol margins due to lower domestic demand and elevated corn costs were among contributing factors to the performance.
https://twitter.com/MarketCurrents/status/1584867412608188417
Disclamer & info:
Since I've seen a lot of requests for individual stock coverage and also requests for individual stock info that isn't about the same few stocks that everyone covers, I've decided to post some individual stock articles that come across in my daily reading. In particular, I'll post articles where the stock's earnings report might shed light on the state of the economy and the business environment of particular markets.
Any articles I post don't imply that I am an investor. I don't actually post about my own stocks anymore because most of them are micro-caps & small-caps that tend to get raided by short sellers whenever I post about their having a good run. So posting an article is not a buy or sell recommendation, just market news from the perspective of an individual stock.
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