Archer-Daniels-Midland reported its official financial results for the third quarter ended September 30, 2024, on November 18, 2024. The company's GAAP earnings per share were $0.04, a 97% decrease compared to the prior year quarter, while adjusted earnings per share stood at $1.09, down 33%.
Total segment operating profit for the quarter was $1,037 million, representing a 28% decline year-over-year. The Ag Services and Oilseeds segment saw a 43% decrease in operating profit, the Carbohydrate Solutions segment was down 3%, and the Nutrition segment experienced a 19% decline.
ADM also confirmed the filing of its restated fiscal year 2023 Form 10-K and the Forms 10-Q for the first and second quarters of 2024. The restatement had no material impact on the company's consolidated financial results for the periods covered. The company affirmed its full-year 2024 adjusted EPS guidance in the range of $4.50 to $5.00.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.