Archer-Daniels-Midland Company Reports Lower Q4 Revenue and Earnings
Tuesday, 12 March 2024, 12:42
Archer-Daniels-Midland Company (ADM) Q4 Earnings Report:
Archer-Daniels-Midland (NYSE: ADM) reported a decline in Q4 revenues to $22.98 billion from $25.94 billion in the prior year.
Financial Performance:
- Net income was $565 million or $1.06 per share, down from $1.02 billion or $1.84 per share last year.
- Adjusted Q4 earnings per share were $1.36, compared to $1.93 a year ago.
- Segment operating profit stood at $1.24 billion, including one-time charges of $171 million.
Fiscal 2024 Outlook:
- Company expects adjusted EPS in the range of $5.25 to $6.25 per share, reflecting an 18% decline at the midpoint compared to 2023.
ADM also announced the repurchase of an additional $2 billion of shares under the existing buyback program.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.