- Archer-Daniels-Midland Co (NYSE:ADM) reported fourth-quarter FY22 sales growth of 13.6% year-on-year to $26.23 billion, beating the consensus of $25.41 billion.
- Revenues from Ag Services and Oilseeds rose 16.3% Y/Y, Carbohydrate Solutions increased 1.9%, and Nutrition climbed 7%.
- Gross profit increased 6.8% Y/Y to $1.7 billion with a margin of 6.7%.
- Selling, general and administrative expenses rose 14% to $897 million.
- Segment operating margin was 6.1%, and Segment operating income for the quarter rose 16% to $1.6 billion.
- Adjusted EPS of $1.93 beat the analyst consensus of $1.64.
- The company held $1.03 billion in cash and equivalents as of Dec. 31, 2022.
- “We are also increasing our investments in the decarbonization of some of our large production facilities to enable the evolution of our Carbohydrate Solutions segment, and investing in our future by empowering new food technology platforms to address evolving consumer preferences and longer-term food security needs,” said CEO Juan Luciano.
- ADM’s Board raised its quarterly dividend by 12.5% to $0.45 per share, payable on Mar. 2, 2023, to shareholders of record on Feb. 9, 2023.
- Price Action: ADM shares are trading lower by 2.08% at $83.79 on the last check Thursday.
- Photo Via Company
General Motors Sees More EV Output In H2 After Lackluster First Half
Automaker General Motors (NYSE:GM) reportedly anticipates an uptick in electric vehicle production in the second half of the year, driven…
