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 (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.
ADM (NYSE: ADM) has declared a cash dividend of 50.0 cents per share on its common stock. The dividend will be paid on June 5, 2024, to shareholders of record on May 16, 2024. This marks ADM's 370th consecutive quarterly payment, spanning over 92 years of uninterrupted dividends. As of March 31, 2024, there were 501,763,545 shares of ADM common stock outstanding.
ADM (NYSE: ADM) surpassed its goal of 2 million regenerative agriculture acres in 2023, expanding to over 2.8 million acres globally. The company aims for 3.5 million acres in 2024 and 5 million acres by 2025. This initiative focuses on improving soil health, reducing carbon footprint, and involving various crops and regions. ADM collaborates with growers, downstream customers, technology partners, and conservation organizations to drive sustainability across the value chain.
ADM reported financial results for Q1 2024, showcasing solid performance despite market challenges. EPS of $1.42, adjusted EPS of $1.46. Segment operating profit of $1,311 million. Affirmed full-year EPS guidance of $5.25 to $6.25. Key strategic initiatives driving growth include Green Bison JV ramp-up and regenerative agriculture efforts. Lower pricing affected results, offset by volume improvements and lower costs.
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