Archer Daniels Midland Co. (NYSE: ADM), the Decatur, Ill.-based grain processor and crop transporter, is scheduled to discuss its fiscal first-quarter 2010 financial results in a conference call Tuesday at 9:00 AM ET. You can catch the live webcast of the call and accompanying slide presentation on the company's website.
During the three months that ended in September, ADM saw management changes and declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect ADM to report that earnings plunged 65.2% from a year ago to $0.56 per share. Revenue for the quarter is expected to be 18.6% lower to $17.2 billion.
So far, analysts expect some sequential growth in EPS and revenue in the fourth quarter, and the early forecast for the full year is for earnings of $2.45 per share (-19.9%) on $66.6 billion (-3.7%) in revenue. But ADM's earnings fell short of expectations in the previous two quarters, by as much as 24 cents per share, due to weak global demand.
ADM's long-term EPS growth forecast is 10%, which is better than the industry average and the S&P 500. Its earnings multiple is 12x and its net cash flow from operations jumped in the previous quarter, but the First Call consensus recommendation remains to hold ADM. Yet the Motley Fool called it a stock with a bright future, SmartMoney recommended it as a contrarian pick, and it was recommended here on BloggingStocks as well.
Shares have risen about 20% in then past six months and are a couple of bucks shy of the 52-week high of $32.13.
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