ADM reports preliminary Q3 GAAP EPS $0.04, adjusted EPS $1.09; to restate FY2023 10-K

Archer-Daniels-Midland Co

2024-Q3 EPS reported $2.48 revenue$64,032,000,000

Preliminary Q3 net earnings of $18M ($0.04 EPS); adjusted net earnings $530M ($1.09 adj. EPS).
Non-cash charge of $461M on Wilmar equity investment impacted GAAP results.
Will restate previously filed FY2023 Form 10-K and subsequent 10-Qs; not expected to materially impact consolidated results.
YTD cash from ops $2.468B vs $1.891B prior year; cash from ops before working capital $2.341B vs $3.804B.
CEO cites mixed results; Carbohydrate Solutions strong, Ag Services & Oilseeds and Nutrition below expectations.

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