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Archer Daniels Midland (ADM) Rises as Accounting Probe ConcludesArcher Daniels Midland Co. ( NYSE:ADM ), the agricultural powerhouse based in Chicago, saw a surge in its stock price after announcing the completion of an internal investigation into accounting irregularities within its nutrition business. While this development removed a significant overhang on the stock, ADM faces challenges as its fourth-quarter earnings fell short of expectations. Despite this setback, the company's upbeat guidance for 2024 and additional share buyback authorization offer a glimmer of hope amidst uncertainty. Resolution of Accounting Probe: ADM's stock rose by 3.95% following the announcement that the internal investigation into accounting practices at its nutrition segment has been substantially completed. The company assured investors that the adjustments required as a result of the probe would not have a material impact on its overall financial statements. This resolution alleviates concerns stemming from a voluntary document request by the Securities and Exchange Commission (SEC) and restores confidence in NYSE:ADM 's governance and transparency. Earnings Disappointment: However, despite the positive news regarding the accounting probe, NYSE:ADM 's fourth-quarter earnings fell short of analyst estimates. Net income for the quarter stood at $565 million, down from $1.019 billion in the previous year. Adjusted earnings per share came in at $1.36, below the FactSet consensus of $1.43. Additionally, revenue declined to $22.978 billion, missing expectations of $23.786 billion. These disappointing figures underscore the challenges facing ADM amidst shifting market dynamics and operational headwinds. Optimistic Guidance and Share Buyback Authorization: Despite the earnings miss, NYSE:ADM provided upbeat guidance for 2024, expecting adjusted earnings per share in the range of $5.25 to $6.25. The company's board also approved an additional $2 billion for its share buyback program, signaling confidence in its long-term prospects. However, FactSet's expectation of $5.41 falls within the lower end of ADM's guidance range, indicating lingering uncertainties about the company's performance. Looking Ahead: As NYSE:ADM navigates through the aftermath of the accounting probe and works towards remediation, investor sentiment remains mixed. While the resolution of the probe removes a significant cloud over the stock, concerns about earnings performance persist. The company's ability to execute its remediation plan effectively, improve financial transparency, and capitalize on growth opportunities will be critical in restoring investor confidence and driving long-term shareholder value.
NYSE:ADMLong
by DEXWireNews
Food Additive Giants: Macro Fib SchematicsThese food additive companies manufacture agricultural ingrediants and additives that nakes its way to prodcust in grocery stores. Archer Daniels Midlands Co, Bunge Limited, International Flavors & Fragrances, Ingredion Inc, DuPont De Nemours, LyondellBasell Industries, Kerry Group, and Givauden are arguably the largest in this type of category. These companies pump out things that humans consume and some argue that much of it is not healthy which is a different topic. These Fibonacci Schematics are not great but they are good enough. Sloppy, but I would like to see someone do it better without excluding any important levels...
NYSE:BG
by MichaelBsul
ADM's Financial Woes UnearthedArcher Daniels Midland ( NYSE:ADM ) Faces Investor Skepticism and Downgraded Ratings Following Accounting Investigation" In a shocking turn of events, Archer Daniels Midland ( NYSE:ADM ), one of the major players in the international grain trading and processing industry, has placed its Chief Financial Officer (CFO), Vikram Luthar, on administrative leave amid an investigation into accounting practices within its nutrition business. The move has sent ripples through the financial world, causing a double-digit drop in NYSE:ADM 's shares and prompting a delay in the release of its fourth-quarter earnings. The investigation was initiated following a request for documents from the U.S. Securities and Exchange Commission (SEC), raising concerns about the company's financial governance and prompting immediate action from NYSE:ADM 's board. Luthar, who assumed the role of CFO in 2022, has been replaced on an interim basis by Ismael Roig. NYSE:ADM , which competes with industry giants like Bunge and Louis Dreyfus, saw its shares plummet more than 10% in pre-market trading, reflecting investor unease about the potential impact on the company's financial health and growth prospects. Goldman Sachs promptly downgraded the stock to "neutral" from "buy," citing uncertainties surrounding the investigation and its potential consequences. The nutrition business, where the accounting irregularities are under scrutiny, has been a significant focus for NYSE:ADM in recent years. With multi-billion-dollar investments in European ingredients manufacturer Wild Flavors and French animal feed maker Neovia, NYSE:ADM sought to capitalize on the growing demand for nutritional products. However, recent struggles in the nutrition business, particularly in the face of waning interest in plant-based proteins, have added to the company's challenges. Conclusion As NYSE:ADM navigates this turbulent period, industry experts and investors are closely monitoring developments. The delay in the release of fourth-quarter earnings adds to the uncertainty, leaving stakeholders with more questions than answers. The board's commitment to working closely with advisors to align processes with financial governance best practices is an assurance, but the road ahead remains uncertain for NYSE:ADM as it works to rebuild investor trust and weather the storm of financial scrutiny.
NYSE:ADMShort
by DEXWireNews
Archer Daniels (ADM) consolidation to breakoutADM has been going through strong bull runs, consolidations and then continuation from the consolidation back up. This looks like another set up for a continuation up. The market has run up, in part perhaps due to the commodity price increases and is now consolidating, perhaps as commodities cool off or maybe just old fashioned profit taking at a new high. Typically these consolidations should continue up, however with commodities taking a breath there are forces at play beyond the stock itself so I'd wait for a breakout rather than jump in during the consolidation in case the move breaks down. Then consider the exit of the flag and distance to the ATH (orange line) and potential resistance in between when choosing an entry.
NYSE:ADMLong
by JBlack99
ADMI like this company. They seem to have their hand in a little bit of everything. 1. We transform natural products into a complete portfolio of ingredients and flavors for foods and beverages, supplements, nutrition for pets and livestock and more. And with an array of unparalleled capabilities across every part of the global food chain, we give our customers an edge in solving global challenges of today and tomorrow. 2. We don’t own farms, but we work with growers, supporting them with personalized services and innovative technologies; partnering with them to develop and enhance sustainable practices; and transforming their bounty into products for consumers around the globe. 3. We do the same with animal nutrition products. Today, more people want to feed their pets the same kind of clean, healthy products they eat themselves and consumers expect livestock and poultry to be fed and raised humanely and sustainably. 4. has declared a cash dividend of 37.0 cents per share on the company’s common stock, an approximately 2.78% increase from last quarter’s dividend of 36.0 cents per share. The dividend is payable on March 2, 2021, to shareholders of record on Feb. 9, 2021. This is ADM’s 357th consecutive quarterly payment, a record of 89 years of uninterrupted dividends. As of Dec. 31, 2020, there were 556,104,261 shares of ADM common stock outstanding. 5. Before joining ADM, CEO Luciano had a successful 25-year tenure at The Dow Chemical Company, where he last served as executive vice president and president of the Performance division. 6. CFO Young joined ADM in 2010 following a 24-year tenure with General Motors Co., during which he held executive leadership positions in finance, general management, planning and operations on four continents. Young served in Shanghai as vice president of GM International Operations, and in 2008 and 2009, he was CFO of General Motors. Between 2004 and 2007, he was the president and managing director of GM do Brasil and Mercosur Operations, based in São Paulo. Young graduated in 1984 from The Ivey School of Business, Western University, in London, Canada, with a bachelor’s degree in business administration. He holds an MBA from the University of Chicago. Details in Photo!
NYSE:ADMLong
by Redimere_91