The following is a summary of the Archer-Daniels-Midland Company (ADM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Archer-Daniels-Midland Company reported Q1 adjusted earnings per share of $1.46 and adjusted segment operating profits of $1.3 billion.

• Cash flow before working capital stood at $900 million, with a return of investment of 11.2% and nutrition revenues of $1.8 billion.

• Despite a decrease of 24% from the prior year in ADM's adjusted segment profits, the company returned $1.3 billion via repurchases to shareholders in Q1.

• There was a $72 million decrease in net timing impacts, due to a negative mark-to-market this quarter of $30 million.

Business Progress:

• ADM's 2024 priorities include managing through the cycle, nutrition recovery, and enhanced return of cash to shareholders.

• Progress has been made, with increased production at the Green Bison joint venture and a near 10% volume increase in bio solutions in Q1.

• The goal for their regenerative ag programs acreage for 2025 has been increased from 4 million to 5 million acres.

• ADM plans to restore the growth trajectory of the nutrition business and expects an improvement in demand fulfillment.

• In the biodiesel sector, progress has been made due to increased demand and strong biodiesel margins.

• ADM plans to fully restart the Decatur East plant by Q4, which will create headwinds for nutrition in specialty ingredients.

• They are also planning to make the Nutrition business more structured, with a focus on its specialty side.

• ADM is also working on a comprehensive decarbonization strategy across the company, driven both by the need to meet their 'Strive 35' goals and by customer demand for low-carbon-intensity products.

More details: Archer Daniels Midland IR

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