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Archer Daniels Midland Company (ADM) posted second-quarter 2024 results, wherein the bottom and top lines missed the Zacks Consensus Estimate. Both metrics declined year over year.Adjusted earnings of $1.03 per share missed the Zacks Consensus Estimate of $1.23. Also, the figure declined 46% from earnings of $1.89 per share in the year-ago quarter. On a reported basis, Archer Daniels’ earnings were 98 cents per share, down 42.4% from the year-ago quarter’s $1.70.Revenues fell 9.5% year over year to $22.2 bi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 1-44 ARCHER-DANIELS-MIDLAND COMPANY (Exact name of registrant as specified in its charter) Delaware 41-0129150 (State or ...

Archer-Daniels-Midland Company (NYSE:ADM) Q2 2024 Earnings Conference Call July 30, 2024 9:00 AM ET Company Participants Megan Britt - Vice President of Investor Relations Juan Luciano - Chairman, CEO & President Ismael Roig - Senior VP & Interim CFO Conference Call Participants Andrew Strelzik - BMO Tom Palmer - Citi Heather Jones - Heather Jones Research Adam Samuelson - Goldman Sachs Ben Theurer - Barclays Manav Gupta - UBS Salvator Tiano - Bank of America Dushyant Ailani - Jefferies Steven Haynes - Morg ...

Financial Performance - Reported EPS for Q2 2024 was $0.98, with adjusted EPS at $1.03, reflecting a 46% decrease year-over-year[1] - Net earnings for Q2 2024 were $486 million, while adjusted net earnings were $508 million, down 47% compared to the previous year[2] - Revenues for the quarter ended June 30, 2024, were $22,248 million, a decrease of 11.5% compared to $25,190 million for the same quarter in 2023[45] - Net earnings attributable to the company for the quarter were $486 million, down 47.5% from $927 million in the same quarter last year[46] - Diluted earnings per share for the quarter were $0.98, compared to $1.70 in the prior year, reflecting a 42.4% decline[46] - Gross profit for the quarter was $1,396 million, a decrease of 26% from $1,883 million in the same quarter of 2023[45] Segment Performance - Segment operating profit for Q2 2024 was $1,014 million, a 34% decrease from Q2 2023, with adjusted segment operating profit at $1,021 million, down 37%[5] - Ag Services & Oilseeds segment operating profit fell to $459 million in Q2 2024, a 56% decline from the prior year[12] - Carbohydrate Solutions segment operating profit increased by 12% to $357 million in Q2 2024, driven by strong starches and sweeteners margins[16] - Nutrition segment operating profit decreased by 36% to $109 million in Q2 2024, primarily due to unplanned downtime and higher manufacturing costs[18] - For the first half of 2024, adjusted segment operating profit was $2,338 million, a 30% decrease compared to the same period in 2023[9] - The Ag Services and Oilseeds segment reported an operating profit of $459 million for the quarter, down from $1,054 million, a decline of $595 million[34] - The Carbohydrate Solutions segment saw an increase in operating profit to $357 million from $319 million, an increase of $38 million[34] Cash Flow and Capital Management - The company reported total operating activities cash flow of $1,168 million for the six months ended June 30, 2024, compared to $899 million for the same period in 2023, an increase of 30%[41] - Total investing activities resulted in a cash outflow of $1,612 million for the six months ended June 30, 2024, compared to $611 million in the prior year[41] - Total cash and cash equivalents decreased to $764 million from $1,426 million, representing a decline of 46.6% year-over-year[40] - Operating working capital as of June 30, 2024, was $9,827 million, down from $10,898 million a year earlier, indicating a reduction of 9.8%[40] - Shareholders' equity decreased to $22,159 million as of June 30, 2024, down from $24,975 million a year earlier, reflecting a decline of 11.3%[40] Costs and Expenses - Corporate unallocated costs increased due to higher global technology investments and legal fees, impacting overall profitability[21] - Corporate unallocated costs for the quarter were $292 million, an increase of $30 million compared to $262 million in the same quarter of 2023[35] - Interest expense for the quarter was $128 million, a slight increase of $3 million from $125 million in the same quarter of 2023[35] Guidance and Future Outlook - The company affirms its adjusted earnings per share (EPS) guidance for the full year, expecting a range of $5.25 to $6.25[23] - The company is unable to present forecasted GAAP EPS due to uncertainties related to impairment, restructuring charges, and acquisition-related expenses[33] Return on Invested Capital - The trailing four-quarter average return on invested capital (ROIC) was 8.9%, with adjusted ROIC at 9.7%[2] - The company emphasizes the importance of adjusted return on invested capital (ROIC) as a measure of performance, comparing it to its weighted average cost of capital (WACC)[32] - Return on Invested Capital (ROIC) was reported at 8.9%, while Adjusted ROIC was 9.7%[52] - Total ROIC earnings for the four quarters ended June 30, 2024, amounted to $2,949 million[50] - Management believes that Adjusted ROIC provides better comparability of underlying business performance, excluding specified items[53] Depreciation and Amortization - The company reported a total of $1,104 million in depreciation and amortization for the four quarters ended June 30, 2024[56] - The company incurred impairment and restructuring charges totaling $268 million over the four quarters ended June 30, 2024[56] Adjusted Metrics - Adjusted net earnings and adjusted EPS are used to provide additional insights into the company's performance, excluding specified items[29] - Adjusted EBITDA for the four quarters ended June 30, 2024, totaled $5,146 million, with the latest quarter's adjusted EBITDA at $1,491 million[56] - Adjusted net earnings for the quarter ended September 30, 2023, were $821 million, with total ROIC earnings of $895 million[50] - Total invested capital as of September 30, 2023, was $33,574 million, with adjusted invested capital at $33,633 million[51]

Archer Daniels Midland (ADM) came out with quarterly earnings of $1.03 per share, missing the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.26%. A quarter ago, it was expected that this agribusiness giant would post earnings of $1.35 per share when it actually produced earnings of $1.46, delivering a surprise of 8.15%.Over the last four quart ...

Second Quarter 2024 Earnings Conference Call July 30, 2024 Proprietary business information of ADM. Proprietary business information of ADM. This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical fact included in this release, are forward-looking statements. You can identify forward-looking statements by the fact that they do not re ...

Wall Street analysts expect Archer Daniels Midland (ADM) to post quarterly earnings of $1.23 per share in its upcoming report, which indicates a year-over-year decline of 34.9%. Revenues are expected to be $23.24 billion, down 7.8% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a c ...

The most recent trading session ended with Archer Daniels Midland (ADM) standing at $62.65, reflecting a +0.69% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.Prior to today's trading, shares of the agribusiness giant had gained 2.59% over the past month. This has outpaced the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.Ana ...

Archer Daniels Midland Company (ADM) is slated to report second-quarter 2024 results on Jul 30 before market open. The company is likely to report bottom and top-line declines when it posts the quarterly results.The Zacks Consensus Estimate for the company’s earnings is pegged at $1.29 per share, which indicates a decrease of 31.8% from the year-ago quarter’s reported figure. The consensus mark has fallen 3.7% in the past 30 days. For revenues, the consensus mark is pegged at $23.2 billion, implying a 7.8% ...