Archer-Daniels-Midland Co.
ADM Reports Fourth Quarter and Full-Year 2023 Results and Announces $2B Share Repurchases
Summary
Archer-Daniels-Midland Company (ADM) reported its financial results for the fourth quarter and full year of 2023. The company announced full-year 2023 GAAP earnings per share (EPS) of $6.43 and adjusted EPS of $6.98. ADM also declared an additional $2 billion for share repurchases under its existing program, effective immediately. The company highlighted segment operating profits, adjusted for specified items, and provided guidance for the full year 2024. Key financial highlights included declines in segment operating profits across most segments, with the exception of the Other segment. The company's total net earnings for the year were $3.466 billion, with a trailing four-quarter average adjusted Return on Invested Capital (ROIC) of 12.2%.
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About Archer-Daniels-Midland Co.
Archer-Daniels-Midland Co. is a global food processing and commodities trading corporation. Its primary function is to procure, transport, store, process, and merchandize a wide variety of agricultural products. Notably involved in the production of oilseeds, corn, wheat, and cocoa, the company plays a critical role in creating essentials like food and animal feed ingredients, renewable fuels, and other industrial products. Archer-Daniels-Midland impacts sectors such as agriculture, energy, and nutrition. Additionally, it emphasizes sustainable practices, focusing on responsible production and supply chain management. Established in 1902, the company has grown to become a significant player in the agricultural industry, with operations spanning over various continents, fortifying its market significance by ensuring food security and supporting energy alternatives like ethanol. Archer-Daniels-Midland serves a broad array of customers, including food manufacturers and industrial processors, by converting natural products into key ingredients and solutions, thus driving forward the global food supply chain.
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