The company said Earnings before income taxes for the quarter ended March 31, 2024 fell $512 million, to $885 million from $1.4 billion. Total segment operating profit (non-GAAP) decreased $432 million, to $1.2 billion from $1.6 billion.

1. 01

   The company said Earnings before income taxes for the quarter ended March 31, 2024 fell $512 million, to $885 million from $1.4 billion. Total segment operating profit (non-GAAP) decreased $432 million, to $1.2 billion from $1.6 billion.

2. 02

   ADM said Revenues for the quarter fell $2.2 billion to $21.8 billion, with lower sales prices ($5.0 billion) partially offset by higher sales volumes ($2.8 billion). Gross profit decreased 20% to $1.7 billion.

3. 03

   The company said operating cash flow was a source of $0.7 billion over the 3 months, compared with a use of $1.6 billion in the same period last year. Cash used in investing activities was $1.2 billion, and net assets of acquired businesses were $0.9 billion.

4. 04

   The company said it repurchased shares for $1.3 billion and paid dividends of $0.3 billion over the 3 months. It entered into an accelerated share repurchase (ASR) Agreement with Merrill Lynch International on March 12, 2024 for $1.0 billion, and received 8,880,986 shares as an initial delivery on March 28.

Key figures

Quarter ended March 31, 2024

Revenue

$21.8B

Net income

$729M

EPS

$1.42

Gross profit

$1.7B

Operating cash flow

$700M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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