ADM Q2 2024 Results
ADM (NYSE: ADM) recorded strong financial results during Q2 2024 driven by solid performances across its different segments. The company continues to create value through strategic investments and efficiency improvements as it reiterates full-year earnings per share (EPS) guidance.
Financial Highlights in ADM Q2 2024 Results
For Q2 2024 results, ADM achieved net earnings of $0.9 billion and adjusted net earnings of $1.0 billion. Over the trailing four-quarter period, average adjusted return on invested capital (ROIC) stood at 13.8%. In H1 2024, the firm bought back $1 billion worth of shares.
Segment Performance
- Ag Services & Oilseeds: Recent infrastructure and operations investments were capitalized on by this segment which registered very good performance. Record origination volumes in Brazil and solid global trade outcomes were among the highlights despite lower crushing results versus last year.
- Carbohydrate Solutions: Although segment profit declined due to softer demand in some areas, this unit delivered strong global starches and sweeteners numbers.
- Nutrition: Flavors posted strong results while expanding customer base, although other parts of the segment faced challenges.
Key Metrics
- Earnings per Share: Reported EPS was $1.70 while adjusted EPS (excluding certain items) equaled $1.89.
- Segment Operating Profit: Total segment operating profit amounted to $1,525 million; adjusted figure was $1,628 million.
- Revenue and Costs: Revenues reached $25,190 million with gross profit standing at $1,883 million.
Strategic Initiatives
ADM keeps driving efficiencies throughout its operations with a focus on trend-based innovation. The company is also progressing well with its decarbonization-related strategic initiatives which are expected to provide additional earnings power and growth opportunities.
Future Outlook
Following a strong first half performance and increased confidence in the second half, ADM has revised upwards its full-year 2024 earnings outlook. The business aims at continuously enhancing value for customers and shareholders through strategic investments alongside ongoing improvement initiatives.