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Archer-Daniels-Midland Company - ADM STOCK NEWS

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For over a century, Archer Daniels Midland Company (NYSE: ADM) has been a pivotal force in transforming crops into essential products that meet the growing needs of our world. As one of the largest global agricultural processors and food ingredient providers, ADM employs more than 33,000 people and operates in over 140 countries. Our expansive value chain includes 460+ crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers, and the world’s leading crop transportation network.

ADM processes oilseeds, corn, wheat, and other agricultural commodities and is a leading grain merchandiser. We also excel in human and animal nutrition, producing corn-based sweeteners, starches, and ethanol. Our recent recall of several animal feed products highlights our commitment to safety and quality.

We are innovators, advancing in health and well-being with groundbreaking plant-based solutions, and sustainability efforts aimed at decarbonizing entire value chains. Our strategic partnership with Solugen to create a new biomanufacturing facility underscores our commitment to sustainable solutions. Additionally, ADM's regenerative agriculture program, which exceeded 2.8 million acres in 2023, is set to expand further, showcasing our dedication to environmental stewardship.

Financially, ADM reported a solid first quarter in 2024 with a segment operating profit of $1,311 million, despite challenging market conditions. Our robust balance sheet and strategic initiatives like the Green Bison JV and BioSolutions, along with productivity enhancements, position us for continued growth. ADM has also been recognized for its efforts in sustainability, as reflected in our recent accolades in the World Changing Ideas Awards.

Learn more at www.adm.com.

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ADM (NYSE: ADM) has announced the release date for its second quarter 2024 financial results. The company will unveil its financial performance before the market opens on Tuesday, July 30, 2024. Accompanying the results, ADM will provide a slide presentation for download. To discuss the results and offer a company update, ADM will host a webcast at 8 a.m. Central Time on the same day. Interested parties can access the webcast and download the presentation at www.adm.com/webcast. For those unable to attend the live event, a replay of the webcast will be available for an extended period at the same web address.

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ADM (NYSE: ADM) and LG Chem announced the termination of their joint ventures to produce lactic and polylactic acid due to escalating construction costs. Established in 2022, these projects have been reevaluated, and it was determined they no longer align with ADM's investment return objectives. Despite this, ADM remains focused on decarbonization and expanding its biosolutions portfolio. The company continues to support innovation, job creation, and economic growth in Decatur, where its North American headquarters are located. For more info, visit www.adm.com/Decatur.

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ADM (NYSE: ADM) has named Monish Patolawala as its new Executive Vice President and Chief Financial Officer, effective August 1, 2024. He will succeed Ismael Roig, who has been the Interim CFO since January 2024. Patolawala brings over 25 years of experience in global finance and technology, having previously worked at 3M and GE. He will oversee ADM's Global Finance and Accounting, Global Business Services, Global Technology, and Enterprise Strategy. ADM’s CEO, Juan Luciano, expressed confidence in Patolawala's ability to drive productivity, innovation, and operational excellence. Patolawala is enthusiastic about contributing to ADM’s mission of enhancing global food security and shareholder value. Roig will continue his role as President of EMEA and President of Animal Nutrition.

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ADM and Bayer have extended their collaboration to promote regenerative agricultural practices in Europe. After a successful feasibility study with oilseed rape farmers in Poland, the project will expand to include more crops like corn, wheat, and barley across Eastern Europe. The study revealed a 15% reduction in carbon emissions for farms using regenerative practices, with potential reductions up to 40%. Farmers will receive financial and technical support, including agronomic guidance and compensation for each qualifying hectare. Bayer's digital tools, in collaboration with Trinity Agtech's Sandy platform, will verify emission reductions. The initiative aims to build a sustainable, lower-carbon supply chain, leveraging advanced science and agronomy capabilities.

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ADM Animal Nutrition, a division of ADM, has expanded its recall on various feed products due to elevated levels of magnesium, sodium, calcium, chloride, and/or phosphorus. The recall now includes multiple additional lots of products intended for cattle, chickens, equine, goats, lambs, llamas, rabbits, sheep, and swine. Though no illnesses have been reported, the elevated levels of these minerals can cause significant health issues in animals, including weight loss, decreased appetite, lethargy, and in severe cases, mortality. The recall affects a range of products distributed across several states from January to April 2024. Customers are advised to stop using the recalled feed and return it for a full refund.

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ADM’s global regenerative agriculture program has been named a finalist in Fast Company’s 2024 World Changing Ideas Awards, recognized in the Enterprise category. The program achieved rapid success in 2023, surpassing its goal by delivering over 2.8 million regenerative acres and partnering with more than 28,000 growers. The initiative has expanded into new regions, including Europe and Latin America, and aims to increase its target to 3.5 million regenerative acres in 2024 and 5 million acres by 2025. This program supports sustainable agricultural practices, connecting climate-smart producers with major brands like PepsiCo and Nestlé to reduce Scope 3 emissions.

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ADM (NYSE: ADM) has been named one of Newsweek’s 'America’s Greatest Workplaces for Women 2024', highlighting its commitment to diversity, equity, and inclusion (DEI). Newsweek, in collaboration with Plant-A Insights Group, evaluated 1,000 companies based on metrics such as compensation, diversity, and work-life balance. The assessment included public data, HR professional interviews, and surveys of over 142,000 female employees, gathering 848,000 reviews. Jennifer Weber, ADM's Chief Human Resources and Diversity Officer, emphasized the importance of DEI in fostering innovation and growth at ADM.

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AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) for Agrinational Insurance Company, a subsidiary of Archer Daniels Midland Company (NYSE: ADM).

The ratings reflect Agrinational’s strong balance sheet, adequate operating performance, and support from ADM. The company’s risk-adjusted capitalization is robust, supported by a conservative investment strategy and reinsurance with highly rated reinsurers. Despite a net loss in 2023 due to large claims, management expects performance to improve. Agrinational's strategic role within ADM involves providing various insurance coverages and risk management services.

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ADM (NYSE: ADM) unveiled its 2023 Corporate Sustainability Report, spotlighting significant achievements and objectives across three core areas: Feeding the World, Protecting Nature, and Enriching Lives. The company has made strides in food security, partnering with nonprofits to bolster nutrition and safety standards. Key environmental accomplishments include a 14.7% reduction in Scope 1+2 and a 7.7% reduction in Scope 3 greenhouse gas emissions, along with the expansion of its regenerative agriculture programs. ADM aims to eliminate the conversion of primary native vegetation in high-risk areas by 2025 for direct supply chains and by 2027 for indirect ones. Additionally, ADM has invested over $20 million in social initiatives and received numerous accolades for its commitment to diversity and ethics.

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ADM (NYSE: ADM) has declared a cash dividend of 50.0 cents per share on its common stock. The dividend will be paid on June 5, 2024, to shareholders of record on May 16, 2024. This marks ADM's 370th consecutive quarterly payment, spanning over 92 years of uninterrupted dividends. As of March 31, 2024, there were 501,763,545 shares of ADM common stock outstanding.

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FAQ

What does Archer Daniels Midland Company (ADM) do?

ADM transforms crops into essential products for food, animal feed, industrial, and energy uses. They are one of the world's largest agricultural processors and food ingredient providers.

How many countries does ADM operate in?

ADM operates in more than 140 countries worldwide.

What recent achievements has ADM made?

ADM expanded its regenerative agriculture program to over 2.8 million acres in 2023 and formed a strategic partnership with Solugen to build a new biomanufacturing facility.

What products does ADM process?

ADM processes oilseeds, corn, wheat, and other agricultural commodities. They also produce corn-based sweeteners, starches, and ethanol.

What are ADM's current projects?

ADM is focused on strategic initiatives like the Green Bison JV, scaling regenerative agriculture, and advancing their BioSolutions efforts.

How did ADM perform financially in the first quarter of 2024?

ADM reported a segment operating profit of $1,311 million, showcasing resilience amid challenging market conditions.

What sustainability initiatives is ADM involved in?

ADM is a leader in sustainability, working on decarbonizing value chains and expanding its regenerative agriculture program.

How many employees does ADM have?

ADM employs more than 33,000 people globally.

What are some of ADM's recent news highlights?

ADM recently announced a recall of certain animal feed products and received recognition from Fast Company’s World Changing Ideas Awards for its regenerative agriculture program.

Where can I find more information about ADM?

You can learn more about ADM and its initiatives at their official website: www.adm.com.

Archer-Daniels-Midland Company

NYSE:ADM

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ADM Stock Data

31.74B
494.44M
0.59%
81.54%
2.31%
Flour Milling
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United States of America
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