ADM Q2 EPS $0.98 ($1.03 adj), down 42% YoY; affirms full-year guidance

Archer-Daniels-Midland Co

2024-Q2 EPS reported $2.41 revenue$44,095,000,000

Q2 GAAP EPS $0.98, adjusted EPS $1.03; net earnings $486M, down 42% vs 2Q23.
Segment operating profit $1,014M (adj $1,021M), down ~34% YoY.
Ag Services & Oilseeds weak due to large South American crops; Carb Solutions solid.
Nutrition segment posted sequential improvement; management expects continued gains.
Full-year EPS guidance reaffirmed; trailing 4Q avg ROIC 8.9%, adjusted 9.7%.

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