Archer Daniels Midland (ADM) misses earnings, revenue consensus estimates

Archer Daniels Midland (ADM) PT Lowered to $71 at BofA Securities

March 14, 2024 5:34 AM EDT

BofA Securities analyst Steve Byrne lowered the price target on Archer Daniels Midland (NYSE: ADM) to $71.00 (from $85.00) while maintaining a Neutral rating.

The analyst comments "We maintain our Neutral rating as we balance ADMs undemanding valuation at ~10x 2024E EPS with earnings... More

Archer Daniels Midland (ADM) PT Lowered to $74 at Wolfe Research

March 13, 2024 4:29 AM EDT

Wolfe Research analyst Sam Margolin lowered the price target on Archer Daniels Midland (NYSE: ADM) to $74.00 (from $82.00) while maintaining a Outperform rating.

The analyst comments "As of 10/23, ADM shares are -22% YTD, tracking the Biofuels average -22%, but behind the XOP +9% and... More

Archer Daniels Midland (ADM) PT Lowered to $64 at Goldman Sachs

March 13, 2024 4:21 AM EDT

Goldman Sachs analyst Adam Samuelson lowered the price target on Archer Daniels Midland (NYSE: ADM) to $64.00 (from $67.00) while maintaining a Neutral rating.

The analyst comments "ADM shares outperformed the broader market today (ADM +3.9% vs. S&P +1.1%) after reporting 4Q23 results and an initial 2024 outlook broadly inline with incoming... More

Archer Daniels Midland (ADM) PT Raised to $58 at Stifel

March 12, 2024 3:54 PM EDT

Stifel analyst Vincent Anderson raised the price target on Archer Daniels Midland (NYSE: ADM) to $58.00 (from $56.00) while maintaining a Hold rating.

The analyst comments "We are updating our estimates for ADM following 4Q23 reporting. On net, our estimates are lowered for 2024 as a... More

CFRA Upgrades Archer Daniels Midland (ADM) to Buy

March 12, 2024 12:41 PM EDT

CFRA analyst Arun Sundaram upgraded Archer Daniels Midland (NYSE: ADM) from Hold to Buy with a price target of $67.00 (from $61.00).

The analyst comments "We lift our 12-month target by $6 to $67, 10.9x our 2024 adj-EPS of $6.13 (up from $6.10; 2025's set at $6.34) vs. the 14x long-term average forward P/E.... More

ADM misses quarterly profit estimates

March 12, 2024 7:21 AM EDT

(Reuters) - Archer-Daniels-Midland reported lower-than-expected fourth-quarter earnings on Tuesday, after an investigation into accounting practices at the company's nutrition unit delayed the release of its financial results for nearly two months.

The global grains merchant reported adjusted earnings of $1.36 per share for the fourth quarter, while analysts had... More

Archer Daniels Midland (ADM) Misses Q4 EPS by 7c

March 12, 2024 7:07 AM EDT

(Updated - March 12, 2024 7:09 AM EDT)

Archer Daniels Midland (NYSE: ADM) reported Q4 EPS of $1.36, worse than the analyst estimate of $1.43. Revenue for the quarter came in at $22.98 billion versus the consensus estimate of $23.64 billion.

GUIDANCE:

Archer Daniels Midland sees FY2024 EPS of $5.25-$6.25, versus the consensus of... More

Archer Daniels Midland (ADM) Issues Update on Audit Committee Led Investigation

March 12, 2024 7:02 AM EDT

ADM (NYSE: ADM) today provided an update with respect to the internal investigation led by the Audit Committee of its Board of Directors regarding certain accounting practices and procedures with respect to ADMs Nutrition reporting segment, including as related to certain intersegment sales. The investigation was initially disclosed in January 2024.

Our strong commitment to compliance and integrity in our financial reporting is evidenced by the diligence and breadth with which the Audit Committee has conducted its internal investigation. The adjustments related to the Companys reporting segments do not impact our consolidated... More

ADM announces plan to address accounting issues, posts earnings miss

March 12, 2024 6:14 AM EDT

By Karl Plume and Sourasis Bose

(Reuters) -Global grains merchant Archer-Daniels-Midland announced a plan to fix accounting issues that caused it to correct certain transactions in six years of financial results on Tuesday, though the plan will take time to implement.

ADM confirmed some employees have received grand jury subpoenas from the Department of Justice which is investigating its accounting practices, after Reuters reported FBI agents delivered subpoenas in Illinois last week.

The subpoenas show that a criminal probe into ADM's accounting, first reported by Reuters last month, is escalating fast and directly relates to accounting... More