ADM (Archer Daniels Midland) Q1 Report 2024

“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,” said Chair of the Board and CEO Juan Luciano.

“To manage through the cycle, we are driving key strategic initiatives across the business, including the ramp-up of production at our Green Bison JV and the scaling of our regenerative agriculture and BioSolutions efforts. Our productivity initiative pipeline is also expanding and we are already seeing the results of our actions to reduce supply chain complexity and better serve our customers in Nutrition as the segment delivered sequential quarterly improvement in operating profit. Our capital deployment actions such as our accelerated share repurchase program also continue to contribute to enhanced shareholder returns. Driving these priorities forward, we remain confident in our guidance for the year.”

Highlights

• Segment operating profit of $1,311 million, adjusted segment operating profit of $1,317 million
• Trailing four-quarter average adjusted return on invested capital (ROIC) of 11.2%