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Aug. 1, 2024 Source: ADM news release CHICAGO -- ADM (NYSE: ADM) today reported financial results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights *Net earnings of $486 million, adjusted net earnings 1 of $508 million *Earnings before taxes of $596 million, segment operating profit 1 of $1,014 million, adjusted segment operating profit 1 of $1,021 million *Trailing four-quarter average return on invested capital (ROIC) of 8.9%, trailing four-quarter average adjusted return on invested capital (ROIC) 1 of 9.7% "ADM delivered solid results in the quarter, in spite of challenging market conditions, and we are pleased with the progress we are making against our 2024 priorities and strategic initiatives," said Chair of the Board and CEO Juan Luciano. "In Ag Services & Oilseeds, while large South American crops and shifts in farmer selling behaviors impacted results in the second quarter, we expect improved margin opportunities through the remainder of the year. "In Carb Solutions, the team delivered solid results driven by favorable Starches & Sweeteners and ethanol margin environments, and we expect continued strong performance. "And our actions to recover profitability in the Nutrition segment delivered sequential improvement in the quarter and set us up for continued increases moving forward. With solid performance and continued strong cash flow, we have returned significant cash to shareholders through our repurchase efforts through the first two quarters. "In the second half of the year, improvements in both crush and ethanol, our efforts in operational excellence, the focus on our key priorities, and our team's agility give us confidence in our full-year expectations, despite uncertainties in the external environment." To read the entire report click here. Tweet |
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