Why Archer-Daniels-Midland Stock Was Falling Today [Yahoo! Finance]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: Yahoo! Finance
It did beat profit expectations, but earnings still fell. As a result, the stock was down 3.3% as of 11:05 a.m. ET on Tuesday. Falling prices weigh on results As a grain processor and trader, ADM is sensitive to commodity prices, and falling prices due to an increase in supply have weighed on results. In the first quarter, revenue fell 9.3% to $21.8 billion, which was below estimates at $22.3 billion. Not surprisingly, the decline in revenue pushed profits lower as adjusted segment operating profit fell 24% to $1.31 billion, and adjusted earnings per share (EPS) declined from $2.09 to $1.46, though that topped the analyst consensus at $1.36. CEO Juan Luciano said, "ADM's solid first-quarter results showcased our team's ability to execute our strategy with agility in the face of anticipated challenging market conditions." The company is also focused on strategic initiatives like its Green Bison joint venture focused on soybean processing to create renewable diesel fuel. Wha
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ADM
Earnings
- 4/30/24 - Beat
ADM
Sec Filings
- 5/9/24 - Form SC
- 5/7/24 - Form 4
- 5/7/24 - Form 144
- ADM's page on the SEC website