Archer-Daniels-Midland Q3 Adjusted Earnings, Revenue Decline

MT Newswires Live11-19

Archer-Daniels-Midland (ADM) reported Q3 adjusted earnings late Monday of $1.09 per share, down from $1.63 a year earlier.

Three analysts polled by Capital IQ expected $1.09.

Total revenue for the quarter ended Sept. 30 was $19.94 billion, down from $21.70 billion a year earlier.

Analysts surveyed by Capital IQ expected $21.50 billion.

For full-year 2024, the company said it continues to expect adjusted EPS in the range of $4.50 to $5. Four analysts polled by Capital IQ expect $4.60.

Following discussions with the US Securities and Exchange Commission staff, the company decided to amend its fiscal 2023 Form 10-K and Q1 and Q2 Form 10-Q filings. Archer-Daniels-Midland confirmed it filed the restated financial statements.

The restatement did not impact consolidated financial results for any covered periods, according to the company.

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