Chicago / IL. (adm) Archer Daniels Midland Company (ADM) reported financial results for the quarter ended March 31, 2024. First Quarter 2024 Highlights: Segment operating profit of USD 1,311 million, adjusted segment operating profit of USD 1,317 million. Trailing four-quarter average adjusted return on invested capital (ROIC) of 11.2 percent.
«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 Chairman 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.»
For additional information please read the company’s PDF file below (81 KB).
20240503-ADM-Q12024.