Welcome to our dedicated page for Archer Daniels Midland Company news (Ticker: ADM), a resource for investors and traders seeking the latest updates and insights on Archer Daniels Midland Company stock.
For over a century, Archer Daniels Midland Company (NYSE: ADM) has been a pivotal force in transforming crops into essential products that meet the growing needs of our world. As one of the largest global agricultural processors and food ingredient providers, ADM employs more than 33,000 people and operates in over 140 countries. Our expansive value chain includes 460+ crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers, and the world’s leading crop transportation network.
ADM processes oilseeds, corn, wheat, and other agricultural commodities and is a leading grain merchandiser. We also excel in human and animal nutrition, producing corn-based sweeteners, starches, and ethanol. Our recent recall of several animal feed products highlights our commitment to safety and quality.
We are innovators, advancing in health and well-being with groundbreaking plant-based solutions, and sustainability efforts aimed at decarbonizing entire value chains. Our strategic partnership with Solugen to create a new biomanufacturing facility underscores our commitment to sustainable solutions. Additionally, ADM's regenerative agriculture program, which exceeded 2.8 million acres in 2023, is set to expand further, showcasing our dedication to environmental stewardship.
Financially, ADM reported a solid first quarter in 2024 with a segment operating profit of $1,311 million, despite challenging market conditions. Our robust balance sheet and strategic initiatives like the Green Bison JV and BioSolutions, along with productivity enhancements, position us for continued growth. ADM has also been recognized for its efforts in sustainability, as reflected in our recent accolades in the World Changing Ideas Awards.
Learn more at www.adm.com.
ADM announced its 2022 Annual Meeting of Stockholders will take place virtually on May 5, 2022, at 8:30 a.m. CDT, due to ongoing COVID-19 concerns. Stockholders are encouraged to vote using the 16-digit control number provided on their proxy materials. The meeting will not allow in-person attendance. Detailed information regarding this change can be found in the proxy supplement filed with the Securities and Exchange Commission on April 14, 2022.
ADM announced a $300 million investment to expand its soy protein concentrate production in Decatur, Illinois, nearly doubling extrusion capacity. This expansion includes the establishment of a new Protein Innovation Center aimed at enhancing product development in response to rising demand. The initiative is projected to be completed by Q1 2025 and will utilize advanced technologies for sustainable operations. The global alternative protein market is expected to grow significantly, with ADM's sales in this sector outpacing industry growth at a projected 10% CAGR.
ADM has announced the appointment of Vikram Luthar as the new Chief Financial Officer, effective immediately. Luthar, who joined ADM in 2004, has held various leadership positions and is recognized for his expertise in finance and strategic growth areas such as health and nutrition. He succeeds Ray G. Young, who served as CFO since 2010 and will now focus on strategic counsel as Vice Chairman. Chairman and CEO Juan Luciano expressed confidence in Luthar's ability to lead ADM into its next growth phase.
ADM is set to announce its financial results for Q1 2022 on April 26, 2022, before market opening. A slide presentation will be accessible for download at that time. Additionally, a webcast will take place at 8 a.m. Central Time to discuss the results and provide company updates. Stakeholders can access the webcast and the presentation via www.adm.com/webcast.
Ray G. Young has been appointed Vice Chairman of ADM, transitioning from his role as Chief Financial Officer as the company seeks a successor. Young will provide strategic guidance on key initiatives crucial for ADM's growth. Chairman and CEO Juan Luciano expressed gratitude for Young's contributions to ADM's transformation into a leader in sustainable nutrition. The company will start a search for a new CFO with both internal and external candidates to ensure a seamless transition.
ADM has priced its inaugural sustainable bond at
ADM's Ag Services & Oilseeds president, Greg Morris, and head of Investor Relations, Vikram Luthar, will participate in a fireside chat at the Bank of America 2022 Global Agriculture and Materials conference on March 3 in Fort Lauderdale, Florida. They will discuss ADM’s transformation, ongoing strategic execution, and positive outlook for 2022, aiming for earnings of $6-$7.00 per share by 2025. The event will be streamed live at 9:30 a.m. Eastern Time.
ADM has unveiled its alternative protein outlook, forecasting growth to $125 billion by 2030. The company identifies seven emerging trends shaping this market, including the rise of novel protein sources, fermentation-as-a-service, and kid-friendly product formats. Innovations in plant-based products are expected to meet consumer demand for health-forward options. With over 60 global innovation centers, ADM is uniquely positioned to support brands in capitalizing on these opportunities, ensuring a sustainable food supply chain for the future.
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