For the quarter ended September 2024, Archer Daniels Midland (ADM) reported revenue of $19.94 billion, down 8.1% over the same period last year. EPS came in at $1.09, compared to $1.63 in the year-ago quarter.The reported revenue represents a surprise of -3.36% over the Zacks Consensus Estimate of $20.63 billion. With the consensus EPS estimate being $1.26, the EPS surprise was -13.49%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations t ...

Archer Daniels Midland (ADM) came out with quarterly earnings of $1.09 per share, missing the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.63 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.49%. A quarter ago, it was expected that this agribusiness giant would post earnings of $1.23 per share when it actually produced earnings of $1.03, delivering a surprise of -16.26%.Over the last four qua ...

Earnings and Profitability - Net earnings expected to be $18 million, with adjusted net earnings of $530 million[2] - Earnings per share expected to be $0.04, with adjusted earnings per share of $1.09[2] - Adjusted net earnings for Q3 2024 were $530 million, with adjusted EPS of $1.09[33] - Adjusted net earnings for the nine months ended September 30, 2024, were $1.788 billion, with adjusted EPS of $3.61[33] - Adjusted earnings per share guidance lowered to $4.50 to $5.00 for full year 2024[25] - Net earnings for the four quarters ended September 30, 2024, totaled $1,798 million[39] Return on Invested Capital (ROIC) - Trailing four-quarter average ROIC of 6.6%, adjusted ROIC of 8.8%[2] - Adjusted ROIC for the trailing four quarters ended September 30, 2024, was 8.8%[35] - Total adjusted ROIC earnings for the trailing four quarters ended September 30, 2024, were $2.876 billion[35] - Total adjusted invested capital for the trailing four quarters ended September 30, 2024, was $32.794 billion[36] Cash Flows and Operating Activities - Year-to-date cash flows from operating activities expected to be $2.468 billion[2] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $2,468 million[40] - Cash flows from operations before working capital for the nine months ended September 30, 2024, was $2,341 million[40] Segment Performance - Ag Services and Oilseeds segment operating profit down 43% to $480 million[10] - Carbohydrate Solutions segment operating profit down 3% to $452 million[16] - Nutrition segment operating profit down 19% to $105 million[18] Impairment and Restructuring Charges - Impairment and restructuring charges for Q3 2024 were $500 million after tax[33] - Impairment and restructuring charges for the nine months ended September 30, 2024, were $523 million after tax[33] - Impairment and restructuring charges and contingency provisions for the four quarters ended September 30, 2024, were $701 million[39] Tax Adjustments - Tax adjustments for Q3 2024 were $13 million[33] - Tax adjustments for the nine months ended September 30, 2024, were $30 million[33] - Income tax expense for the four quarters ended September 30, 2024, was $563 million[39] Other Expenses - Interest expense for the four quarters ended September 30, 2024, was $483 million[39] - Depreciation and amortization for the four quarters ended September 30, 2024, was $1,131 million[39] - Railroad maintenance expense for the four quarters ended September 30, 2024, was $71 million[39] - Expenses related to acquisitions for the four quarters ended September 30, 2024, were $5 million[39] Adjusted EBITDA - Adjusted EBITDA reconciliation for the trailing four quarters ended September 30, 2024, is provided[38] - Adjusted EBITDA for the four quarters ended September 30, 2024, was $4,706 million[39] Non-Cash Charges and Restatements - Non-cash charge of $461 million related to Wilmar equity investment[5] - Restatement of fiscal year 2023 Form 10-K and subsequent Forms 10-Q due to intersegment sales errors[6]

Financial Performance - Revenues for the three months ended September 30, 2024, were $19,937 million, a decrease of 8.1% from $21,695 million in the same period of 2023[13] - Gross profit for the three months ended September 30, 2024, was $1,365 million, down 24.6% from $1,810 million in the prior year[13] - Net earnings attributable to Archer-Daniels-Midland Company for the three months ended September 30, 2024, were $18 million, a significant decline from $821 million in the same period of 2023[13] - Basic earnings per common share for the three months ended September 30, 2024, were $0.04, compared to $1.52 in the same period of 2023[13] - Comprehensive income attributable to Archer-Daniels-Midland Company for the three months ended September 30, 2024, was $58 million, down from $643 million in the same period of 2023[16] - Net earnings for the nine months ended September 30, 2024, were $1,218 million, a decrease from $2,924 million in the same period of 2023, representing a decline of approximately 58.3%[24] - Total segment operating profit for the nine months ended September 30, 2024 was $3,158 million, down from $4,616 million for the same period in 2023, a decline of 32%[198] Assets and Liabilities - Total current assets decreased to $26,626 million as of September 30, 2024, from $29,767 million at the end of September 2023[21] - Total liabilities decreased to $38,932 million as of September 30, 2024, from $40,166 million at the end of September 2023[21] - Total assets as of September 30, 2024, amounted to $9,066 million, a decrease from $10,104 million as of December 31, 2023[88] - Total liabilities as of September 30, 2024, were $1,949 million, compared to $2,421 million as of December 31, 2023, indicating a reduction in liabilities[88] - The fair value of the company's long-term debt, excluding the current portion, was $7.5 billion as of September 30, 2024, compared to a carrying value of $7.6 billion[151] Cash Flow and Investments - Net cash provided by operating activities increased to $2,468 million, up from $1,891 million, reflecting a growth of about 30.5% year-over-year[24] - Net cash used by investing activities was $2,002 million, significantly higher than $1,061 million in the previous year, marking an increase of approximately 88.5%[24] - Share repurchases totaled $2,327 million, compared to $1,118 million in the same period last year, reflecting an increase of about 108.5%[24] - Cash dividends paid were $744 million, slightly up from $738 million, representing an increase of 0.8%[24] - The Company reported a total of $11.6 billion in purchases and $11.8 billion in sales for the nine months ended September 30, 2024[107] Segment Performance - The Ag Services and Oilseeds segment generated $5,139 million in revenues, with a 552 million increase year-over-year[69] - The Carbohydrate Solutions segment reported revenues of $8,370 million, with no year-over-year change noted[69] - The Nutrition segment achieved revenues of $5,490 million, maintaining consistent performance compared to the previous year[69] - The Ag Services and Oilseeds segment reported an operating profit of $480 million for the three months ended September 30, 2024, compared to $848 million for the same period in 2023, a decrease of 43%[198] Impairments and Restructuring - The company incurred asset impairment, exit, and restructuring costs of $507 million for the three months ended September 30, 2024, compared to $79 million in the same period of 2023[13] - The Company reported an asset impairment charge of $517 million for the nine months ended September 30, 2024, compared to $120 million in 2023, indicating a significant increase of 331.7%[24] - Restructuring charges for the nine months ended September 30, 2024 were $15 million, primarily related to employee severance[201] Tax and Regulatory Matters - The company’s effective tax rate was 83.3% for the three months ended September 30, 2024, an increase from 20.1% for the same period in 2023, primarily due to the impairment of an investment[156] - The Company received a tax assessment of $122 million from the Netherlands tax authority, which was later reduced to $52 million by the Tax Court of Appeals[159] - The Company accrued a final assessed tax amount of $52 million as of September 30, 2024, following the Tax Court's ruling[159] Share Repurchase and Dividends - On March 12, 2024, the Company initiated an accelerated share repurchase (ASR) program to repurchase $1.0 billion of its common stock, with a target of repurchasing up to 200 million shares by December 31, 2024[160] - As of September 30, 2024, the Company had 14.8 million shares remaining under its existing share repurchase program[164] - The total number of shares repurchased under the ASR agreement included 8,880,986 shares at an average price of $60.596, totaling $538 million, and a final delivery of 7,325,733 shares at an average price of $63.045, totaling $462 million[161][163] Receivables and Cash Collections - The Company recorded a loss on sale of receivables of $22 million for the three months ended September 30, 2024, compared to $11 million for the same period in 2023, representing a year-over-year increase of 100%[206] - Total receivables sold for the nine months ended September 30, 2024, were $34.9 billion, compared to $41.2 billion for the same period in 2023, indicating a decrease of approximately 5.7%[205] - Cash collections from customers on receivables sold were $34.0 billion for the nine months ended September 30, 2024, down from $40.7 billion in 2023, reflecting a decline of about 16.5%[205]

Q3 Revenues Increased 12% Year over Year, Up 13% Year to DateTrialing Twelve Month Revenue $5.7 MillionNew Facility Under Construction Appraised at $13 MillionFort Worth, Texas--(Newsfile Corp. - November 14, 2024) - Just Right Products Inc., the wholly owned subsidiary of ADM Endeavors (OTCQB: ADMQ) ("ADM" or the "Company"), announces its financial results for the three- and nine-months ended September 30, 2024. Unless otherwise stated, all dollar amounts are in U.S. dollars. The Company's 10-Q can be acc ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial .When I started trading at the age of 16, I thought dividend investors were somewhat "weird." I just did not understand the appeal of a company with a 2-3% yield. Why on earth would someone get excited by making a few percentAnalyst’s Disclosure: I/we have a beneficial long posit ...

Here are three stocks added to the Zacks Rank #24 (Strong Sell) List today:Albemarle Corporation (ALB) is an engineered specialty chemicals company. The Zacks Consensus Estimate for its current year earnings has been revised 106.1% downward over the last 60 days.Archer-Daniels-Midland Company (ADM) is an agricultural commodities and ingredients company. The Zacks Consensus Estimate for its current year earnings has been revised 5.7% downward over the last 60 days.Antero Resources Corporation (AR) is an inde ...

The agriculture giant is expecting weaker profitability for its recently completed third quarter, and cut its bottom-line guidance for 2024.Archer Daniels Midland (ADM -5.97%) -- also known as ADM -- had some news to report after the market closed Monday, and investors didn't find it comforting. They traded out of the stock assertively on Tuesday, bidding it down by about 6% through the close of the session. That did not compare well to the S&P 500 index's gain of more than 1% for the day.Preliminary result ...

Key TakeawaysArcher-Daniels-Midland said it will again restate results as it has discovered more concerns about its accounting practices. The company also canceled a conference call with analysts after releasing a preliminary third quarter earnings report that showed profit well below estimates.CEO Juan Luciano blamed softer than anticipated market conditions and the speed of ADM's improvement efforts. Shares in Archer-Daniels-Midland (ADM) sank as the maker of agricultural commodities canceled an earnings ...

Archer Daniels Midland Company (ADM) has been going through a tough phase for some time now. The company has been witnessing sluggishness across its Ag Services & Oilseeds (AS&O) unit for a while. In addition, lower pricing, foreign exchange headwinds and a challenging operating landscape have been acting as deterrents. ADM has announced preliminary results for the third quarter of 2024.More on ADM’s Preliminary ResultsManagement highlighted that the Nutrition business witnessed lower-than-expected results, ...