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ADM REPORTS IT WILL LAYOFF 700 WORKERS AS ITS PROFITS DECLINE
Feb. 5, 2025
By Steve Gelsi, Dow Jones
Ethanol maker and food processor says 2025 guidance reflects 'weaker' market view on biofuel, trade policy turmoil
Archer Daniels Midland Co. said its fourth-quarter profit fell 9% to $667 million, as it issued a cautious outlook for 2025 and said it would cut up to 700 jobs to reduce expenses.
Archer Daniels Midland (ADM) said it expects to generate adjusted 2025 earnings of $4 to $4.75 a share to reflect "weaker market fundamentals and on-going biofuel and trade policy uncertainty."
The midpoint of the estimated range would fall well below the FactSet consensus estimate of $4.71 a share.
"Going into 2025, we are focused on improving our operational performance, accelerating costs savings, and simplifying our portfolio," the company said.
In a move to save $500 million to $750 million, Archer Daniels Midland said it would cut 600 to 700 jobs across the globe.
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