Archer-Daniels-Midland Co

NYSE:ADMUnited States

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• DJ Archer Daniels Midland 3Q Profit Plunges, Revenue Falls, from 36 minutes ago by Dow Jones

  36 minutes ago by Dow Jones
  Companies Mentioned: ADM
  
  By Sabela Ojea
  
  Archer Daniels Midland said profit plunged in the third quarter, shortly after saying it would restate its 2023 filing with the Securities Exchange Commission, along with the first and second quarter forms.
  

• Archer-Daniels-Midland Q3 Adjusted Earnings, Revenue Decline, from 1 hour ago by MT Newswires

  1 hour ago by MT Newswires
  Companies Mentioned: ADM
  05:01 PM EST, 11/18/2024 (MT Newswires) -- 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 e...

• -- Earnings Flash (ADM) ADM Posts Q3 Revenue $19.94B, from 1 hour ago by MT Newswires

  1 hour ago by MT Newswires
  Companies Mentioned: ADM
  04:32 PM EST, 11/18/2024 (MT Newswires) -- ...

• -- Earnings Flash (ADM) ADM Posts Q3 EPS $1.09, from 1 hour ago by MT Newswires

  1 hour ago by MT Newswires
  Companies Mentioned: ADM
  04:30 PM EST, 11/18/2024 (MT Newswires) -- ...

• ADM Reports Third Quarter 2024 Results, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: ADM
  === === === === ===== Total ROIC Earnings $648 $817 $589 $112 $ 2,166 Other Adjustments 155 21 22 512 710 --- --- --- --- ----- Total Adjusted ROIC Earnings $803 $838 $611 $624 $ 2,876 === === === === ===== Invested Capital (in millions) Trailing Quarter Ended Four Dec. Mar. Jun. 31, 31, 30, Sep. 30, Quarter 2023 2024 2024 2024 Average ------- ------- ------- -------- ------------ Equity (1) $24,132 $23,219 $22,148 $ 21,974 $22,868 + Interest-bearing liabilities (2) 8,370 9,995 10,576 10,051 9,748 ------ ------ ------ ------- ------ --- Total Invested Capital $32,502 $33,214 $32,724 $ 32,025 $32,616 ====== ====== ====== ======= ====== === Total Invested Capital $32,502 $33,214 $32,724 $ 32,025 $32,616 Other Adjustments 155 21 22 512 178 ------ ------ ------ ------- ------ --- Total Adjusted Invested Capital $32,657 $33,235 $32,746 $ 32,537 $32,794 ====== ====== ====== ======= ====== === Return on Invested Capital 6.6% Adjusted Return on Invested Capital 8.8% (1) Excludes noncontrolling interests (2) Includes short-term debt, current maturities of long-term debt, finance lease obligations, and long-term debt ROIC is ROIC earnings divided by invested capital. ROIC earnings is ADM's net earnings adjusted for the after-tax effects of interest expense on borrowings. Invested capital is the sum of ADM's equity (excluding noncontrolling interests) and interest-bearing liabilities. Adjusted ROIC is Adjusted ROIC earnings divided by adjusted invested capital. Adjusted ROIC earnings is ADM's net earnings adjusted for the after-tax effects of interest expense on borrowings, and specified items. Adjusted invested capital is the sum of ADM's equity (excluding noncontrolling interests) and interest-bearing liabilities adjusted for the after-tax effect of specified items. Adjusted ROIC on a trailing four quarter average basis is equal to the average trailing four quarters of adjusted ROIC earnings divided by the average trailing four quarters of adjusted invested capital. Management believes Adjusted ROIC is a useful financial measure because it provides investors information about ADM's returns excluding the impacts of specified items and increases period-to-period comparability of underlying business performance. Management uses Adjusted ROIC to measure ADM's performance by comparing Adjusted ROIC to its weighted average cost of capital (WACC). Adjusted ROIC, Adjusted ROIC earnings and Adjusted invested capital are non-GAAP financial measures and are not intended to replace or be alternatives to GAAP financial measures. Adjusted Earnings Before Interest, Taxes, and Depreciation and Amortization (EBITDA) A non-GAAP financial measure (unaudited) The tables below provide a reconciliation of net earnings to adjusted EBITDA for the trailing four quarters ended September 30, 2024. Four Quarters Quarter Ended Ended Dec. Mar. Sep. 31, 31, 30, Sep. 30, 2023 2024 Jun. 30, 2024 2024 2024 ------- ------- ----------------- ------- ------------ (in millions) Net earnings $ 565 $ 729 $ 486 $ 18 $ 1,798 Net earnings (losses) attributable to noncontrolling interests (23) (10) (5) -- (38) Income tax expense 192 166 115 90 563 Interest expense 109 115 135 124 483 Depreciation and amortization 277 280 286 288 1,131 ----- ----- --- ------- --- ----- ----- EBITDA 1,120 1,280 1,017 520 3,937 (Gain) loss on sales of assets and businesses (7) -- -- (1) (8) Impairment and restructuring charges and contingency provisions 172 18 7 504 701 Railroad maintenance expense 39 -- 4 28 71 Expenses related to acquisitions 1 -- 4 -- 5 ----- ----- --- ------- --- ----- ----- Adjusted EBITDA $1,325 $1,298 $ 1,032 $1,051 $ 4,706 ===== ===== === ======= === ===== ===== EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as earnings before interest on borrowings, taxes, depreciation, and amortization, adjusted for specified items. The Company calculates adjusted EBITDA by removing the impact of specified items and adding back the amounts of income tax expense, interest expense on borrowings, and depreciation and amortization to net earnings. Management believes that EBITDA and adjusted EBITDA are useful measures of the Company's performance because they provide investors additional information about the Company's operations allowing better evaluation of underlying business performance and better period-to-period comparability. EBITDA and adjusted EBITDA are non-GAAP financial measure and are not intended to replace or be an alternative to net earnings, the most directly comparable GAAP financial measure.