Archer Daniels Midland Company - ADM STOCK NEWS

ADM (NYSE: ADM) has announced the release date for its second quarter 2024 financial results. The company will unveil its financial performance before the market opens on Tuesday, July 30, 2024. Accompanying the results, ADM will provide a slide presentation for download. To discuss the results and offer a company update, ADM will host a webcast at 8 a.m. Central Time on the same day. Interested parties can access the webcast and download the presentation at www.adm.com/webcast. For those unable to attend the live event, a replay of the webcast will be available for an extended period at the same web address.

ADM (NYSE: ADM) and LG Chem announced the termination of their joint ventures to produce lactic and polylactic acid due to escalating construction costs. Established in 2022, these projects have been reevaluated, and it was determined they no longer align with ADM's investment return objectives. Despite this, ADM remains focused on decarbonization and expanding its biosolutions portfolio. The company continues to support innovation, job creation, and economic growth in Decatur, where its North American headquarters are located. For more info, visit www.adm.com/Decatur.

ADM (NYSE: ADM) has named Monish Patolawala as its new Executive Vice President and Chief Financial Officer, effective August 1, 2024. He will succeed Ismael Roig, who has been the Interim CFO since January 2024. Patolawala brings over 25 years of experience in global finance and technology, having previously worked at 3M and GE. He will oversee ADM's Global Finance and Accounting, Global Business Services, Global Technology, and Enterprise Strategy. ADM’s CEO, Juan Luciano, expressed confidence in Patolawala's ability to drive productivity, innovation, and operational excellence. Patolawala is enthusiastic about contributing to ADM’s mission of enhancing global food security and shareholder value. Roig will continue his role as President of EMEA and President of Animal Nutrition.

ADM and Bayer have extended their collaboration to promote regenerative agricultural practices in Europe. After a successful feasibility study with oilseed rape farmers in Poland, the project will expand to include more crops like corn, wheat, and barley across Eastern Europe. The study revealed a 15% reduction in carbon emissions for farms using regenerative practices, with potential reductions up to 40%. Farmers will receive financial and technical support, including agronomic guidance and compensation for each qualifying hectare. Bayer's digital tools, in collaboration with Trinity Agtech's Sandy platform, will verify emission reductions. The initiative aims to build a sustainable, lower-carbon supply chain, leveraging advanced science and agronomy capabilities.

ADM Animal Nutrition, a division of ADM, has expanded its recall on various feed products due to elevated levels of magnesium, sodium, calcium, chloride, and/or phosphorus. The recall now includes multiple additional lots of products intended for cattle, chickens, equine, goats, lambs, llamas, rabbits, sheep, and swine. Though no illnesses have been reported, the elevated levels of these minerals can cause significant health issues in animals, including weight loss, decreased appetite, lethargy, and in severe cases, mortality. The recall affects a range of products distributed across several states from January to April 2024. Customers are advised to stop using the recalled feed and return it for a full refund.

ADM’s global regenerative agriculture program has been named a finalist in Fast Company’s 2024 World Changing Ideas Awards, recognized in the Enterprise category. The program achieved rapid success in 2023, surpassing its goal by delivering over 2.8 million regenerative acres and partnering with more than 28,000 growers. The initiative has expanded into new regions, including Europe and Latin America, and aims to increase its target to 3.5 million regenerative acres in 2024 and 5 million acres by 2025. This program supports sustainable agricultural practices, connecting climate-smart producers with major brands like PepsiCo and Nestlé to reduce Scope 3 emissions.

ADM (NYSE: ADM) has been named one of Newsweek’s 'America’s Greatest Workplaces for Women 2024', highlighting its commitment to diversity, equity, and inclusion (DEI). Newsweek, in collaboration with Plant-A Insights Group, evaluated 1,000 companies based on metrics such as compensation, diversity, and work-life balance. The assessment included public data, HR professional interviews, and surveys of over 142,000 female employees, gathering 848,000 reviews. Jennifer Weber, ADM's Chief Human Resources and Diversity Officer, emphasized the importance of DEI in fostering innovation and growth at ADM.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) for Agrinational Insurance Company, a subsidiary of Archer Daniels Midland Company (NYSE: ADM).

The ratings reflect Agrinational’s strong balance sheet, adequate operating performance, and support from ADM. The company’s risk-adjusted capitalization is robust, supported by a conservative investment strategy and reinsurance with highly rated reinsurers. Despite a net loss in 2023 due to large claims, management expects performance to improve. Agrinational's strategic role within ADM involves providing various insurance coverages and risk management services.

ADM (NYSE: ADM) unveiled its 2023 Corporate Sustainability Report, spotlighting significant achievements and objectives across three core areas: Feeding the World, Protecting Nature, and Enriching Lives. The company has made strides in food security, partnering with nonprofits to bolster nutrition and safety standards. Key environmental accomplishments include a 14.7% reduction in Scope 1+2 and a 7.7% reduction in Scope 3 greenhouse gas emissions, along with the expansion of its regenerative agriculture programs. ADM aims to eliminate the conversion of primary native vegetation in high-risk areas by 2025 for direct supply chains and by 2027 for indirect ones. Additionally, ADM has invested over $20 million in social initiatives and received numerous accolades for its commitment to diversity and ethics.