格隆汇2月3日｜美国谷物贸易商Archer-Daniels-Midland(ADM)公布第四季度业绩，营收同比下降14%至 185.6亿美元，低于分析师预期的210.6亿美元；净利润同比下降19.6%至4.56亿美元，调整后每股收益为 0.87美元，超过分析师预期的0.8美元。 公司首席执行官Juan Luciano表示，尽管公司所处的环境充满挑战，面临着复杂的全球贸易格局以及美 国生物燃料政策的持续不确定性，但去年公司仍展现出了强大的韧性。展望今年，该公司预计调整后每 股收益将在3.6至4.25美元之间，而分析师的预期为4.22美元。 ...

Fourth Quarter and Full Year 2025 Earnings Conference Call February 3, 2026 Proprietary business information of ADM. 2 Cautionary Note Regarding Forward-Looking Statements 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 ...

Archer Daniels Midland logged lower fourth-quarter profit and revenue, hurt by a challenging operating environment marked by trade and policy uncertainty. ...

Exhibit 99.1 ADM Reports Fourth Quarter and Full-year 2025 Results; Provides 2026 Guidance Reports fourth quarter 2025 EPS of $0.94 and adjusted EPS of $0.87, with full-year 2025 EPS of $2.23 and adjusted EPS of $3.43 2 1,2 2 1,2 Provides 2026 outlook underpinned by an expected increasingly constructive operating environment as global trade policies evolve and U.S. biofuel policy clarity progresses Announces increase in quarterly dividend, marking 53 consecutive years of dividend growth CHICAGO, February 3, ...

This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: Tobacco and agriproducts maker Universal “withdrew its offer of employment” to Archer-Daniels-Midland alum Anubhav Mittal for the position of CFO, the company reported in a Jan. 28 securities filing. The change came roughly a week after Mittal’s hiring was announced — and one day after the Securities and Exchange Commission on Tuesday filed a lawsuit against A ...

Core Insights - Archer Daniels Midland Company (ADM) is expected to report a decline in earnings for the fourth quarter of 2025, with an estimated earnings per share (EPS) of 83 cents, reflecting a 27.2% decrease from the previous year [1][2]. Financial Performance - The Zacks Consensus Estimate for ADM's revenues is projected at $22.3 billion, indicating a 3.8% growth compared to the same quarter last year [2]. - In the last reported quarter, ADM achieved an earnings surprise of 3.4%, beating the Zacks Consensus Estimate by an average of 4.3% over the last four quarters [3]. Segment Analysis - The Ag Services and Oilseeds segment is anticipated to face continued pressure due to challenging margins, with revenues estimated at $17.7 billion, suggesting a 4.9% year-over-year growth [4][7]. - The Carbohydrate Solutions segment is expected to report revenues of $2.6 billion, indicating a 4.9% decline year-over-year, driven by soft global demand for sweeteners and starches [6][7]. - The Nutrition segment is projected to be a positive contributor, with revenues estimated at $1.85 billion, reflecting a 4.3% year-over-year growth, supported by portfolio optimization and cost discipline [8][9]. Market Dynamics - The company is experiencing margin pressures in its Refined Products and Other segment due to uncertainties in biofuel and trade policies, which have negatively impacted biodiesel margins [5]. - Despite these challenges, ADM is focusing on productivity improvements and innovation, particularly in biosolutions, biotics, flavors, and health and wellness, which are seeing increased customer engagement [10][11]. Valuation Metrics - ADM has a forward 12-month price-to-earnings ratio of 15.76X, which is below its five-year high of 16.91X and above the industry average of 13.59X [15]. - The stock has risen 10.5% over the past three months, contrasting with a 14.8% decline in the industry [15].

Core Insights - The SEC has charged Archer-Daniels-Midland (ADM) with accounting and disclosure fraud, marking a significant development in a two-year investigation into the company's intersegment sales accounting practices [2][3] Group 1: SEC Charges and Settlement - The SEC announced settled charges against ADM and two former executives, including Ray Young, the former CFO [2] - ADM agreed to pay a $40 million civil fine as part of the settlement, without admitting or denying the SEC's findings [3] - The SEC and DOJ investigations into ADM's intersegment sales have been closed, with ADM stating it has made significant changes to its financial leadership and controls [3] Group 2: Implications for Executives - While ADM has been cleared from DOJ investigation, former executives may still face scrutiny, indicating that not all individuals involved are out of the woods [3] - The SEC's decision to charge accounting fraud, which carries more weight than disclosure fraud, underscores the seriousness of the violations [3] Group 3: Political Context and Cooperation - The continuation of the case into the Trump administration suggests its gravity, as it could have been dropped by a more business-friendly SEC [3] - The relatively modest $40 million fine may reflect ADM's cooperation with the SEC, which is valued under the current administration [3] Group 4: Internal Discrepancies - There were internal disagreements among ADM's finance executives regarding accounting practices, particularly concerning a retroactive rebate to offset operating shortfalls in the Nutrition business [3]

Core Viewpoint - Analysts expect Archer Daniels Midland (ADM) to report quarterly earnings of $0.83 per share, reflecting a year-over-year decline of 27.2%, with revenues projected at $22.31 billion, an increase of 3.8% from the previous year [1] Earnings Projections - The consensus EPS estimate has been revised downward by 22.2% over the past 30 days, indicating a significant reassessment by analysts [1][2] Revenue Estimates - Analysts predict 'Revenues- Carbohydrate Solutions' will reach $2.61 billion, down 4.9% year-over-year [4] - 'Revenues- Other Business' is expected to be $104.00 million, showing a year-over-year increase of 4% [4] - 'Revenues from external customers- Nutrition- Animal Nutrition' is estimated at $894.37 million, reflecting a 4.2% increase year-over-year [4] - 'Revenues- Nutrition' is projected to be $1.85 billion, indicating a 4.3% year-over-year increase [5] - 'Revenues- Ag Services and Oilseeds' is expected to reach $17.70 billion, up 4.9% from the prior year [5] - 'Revenues from external customers- Carbohydrate Solutions- Vantage Corn Processors' is forecasted at $733.17 million, a 1.6% increase year-over-year [6] - 'Revenues from external customers- Ag Services and Oilseeds- Crushing' is expected to be $3.03 billion, reflecting an 8.7% increase [6] - 'Revenues from external customers- Ag Services and Oilseeds- Refined Products and Other' is estimated at $2.83 billion, indicating an 8.9% year-over-year increase [7] - 'Revenues from external customers- Carbohydrate Solutions- Starches and Sweeteners' is projected at $1.88 billion, down 7.2% from the previous year [7] - 'Revenues from external customers- Nutrition- Human Nutrition' is expected to be $956.40 million, reflecting a 4.4% increase [8] - 'Revenues from external customers- Ag Services and Oilseeds- Ag Services' is projected at $11.84 billion, indicating a 3.1% increase year-over-year [8] Processed Volumes - Analysts predict 'Processed volumes - Oilseeds' will reach 9,181 thousand metric tons, compared to 9,050 thousand metric tons from the previous year [9] Stock Performance - Over the past month, ADM shares have returned +17.2%, outperforming the Zacks S&P 500 composite's +0.8% change [10] - ADM currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [10]

Core Viewpoint - Archer Daniels Midland (ADM) reached a $40 million settlement with the SEC to resolve allegations of defrauding investors by inflating profit margins in its nutrition segment [1][3]. Group 1: Settlement Details - The settlement concludes a regulatory investigation into ADM's accounting practices, which led to a significant decline in stock value and the departure of several top executives [3]. - ADM settled the case without admitting any wrongdoing [3]. Group 2: Allegations and Investigations - The SEC's case focused on actions taken between 2021 and 2022, where then-CFO Vikram Luthar allegedly directed accounting adjustments to inflate profits in the nutrition division [4]. - The SEC claims these adjustments were intended to misrepresent the success of the nutrition business, which ADM has heavily invested in through acquisitions [4]. Group 3: Individual Accountability - The SEC has filed a separate lawsuit against Luthar, alleging he directed the fraud and profited by selling over $1.8 million in ADM shares while the stock price was inflated [5]. - The SEC seeks to recover Luthar's gains, impose financial penalties, and bar him from serving as an officer or director of any public company [6]. Group 4: Company Response - ADM's CEO expressed satisfaction in moving past the investigation and reaffirmed the company's commitment to transparency and integrity [6]. - A separate criminal investigation by federal prosecutors has been closed without any charges being filed [6].

Core Viewpoint - Archer Daniels Midland Co. (ADM) is facing significant scrutiny due to a settlement with the SEC over allegations of misleading investors regarding the performance of its nutrition segment, which has raised concerns about the company's accounting practices [2][4]. Group 1: Settlement and Allegations - ADM has reached a $40 million civil penalty settlement with the SEC without admitting or denying wrongdoing, related to allegations of improper accounting in its nutrition unit [2]. - The SEC claims that ADM misled investors by using improper accounting methods to inflate the profits of its nutrition segment, primarily through non-market "intersegment" sales [2][5]. Group 2: Executive Charges - Former executives Vince Macciocchi and Ray Young have been charged in connection with the accounting issues, with Macciocchi agreeing to pay approximately $404,343 in disgorgement and a $125,000 civil penalty, while Young will pay about $575,610 in disgorgement and a $75,000 civil penalty [3]. - Vikram Luthar, the current CFO, faces ongoing charges for allegedly inflating the nutrition segment's performance, which was presented as a key growth driver for ADM [4]. Group 3: Specific Accounting Practices - The SEC's complaint against Luthar alleges that he directed adjustments to nutrition's transactions to meet operating profit targets, including retroactive rebates and price changes that were not typically available to third-party customers [4][5]. - These adjustments aimed to create the illusion that the nutrition segment was achieving the projected 15% to 20% annual operating profit growth [5].