The company said GAAP earnings per share for Q1 2024 were $1.42 and adjusted earnings per share were $1.46. Net earnings attributable to ADM for the same quarter were $729 million, compared with $1,170 million in the prior-year quarter.

1. 01

   The company said GAAP earnings per share for Q1 2024 were $1.42 and adjusted earnings per share were $1.46. Net earnings attributable to ADM for the same quarter were $729 million, compared with $1,170 million in the prior-year quarter.

2. 02

   ADM said adjusted segment operating profit for Q1 2024 was $1,317 million, down 24% from the prior-year period. The company attributed the decline to lower pricing and execution margins, which reduced earnings by $1.00 per share, mainly reflecting lower crush and origination margins.

3. 03

   The company said Ag Services & Oilseeds segment operating profit for Q1 2024 was $864 million, down 29% from the prior-year period. It said operating profit in its Crushing subsegment fell 27%, citing increased imports of used cooking oil and the anticipation of large South American supplies, which negatively affected North American soy crush margins.

4. 04

   The company disclosed that it had cash outflows of $(1,327) million for share repurchases in Q1 2024 (three months ended March 31), as shown in its cash flow statement. It also said it continues to expect full-year adjusted earnings per share in the range of $5.25 to $6.25.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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