Archer-Daniels-Midland Expects 2024 Adjusted EPS Of $5.25-$6.25, Est $5.87
Portfolio Pulse from Benzinga Newsdesk
Archer-Daniels-Midland (ADM) projects its 2024 adjusted EPS to be between $5.25 and $6.25, which is an 18% decrease from 2023, due to moderating margin conditions and higher costs despite improved volumes.
March 12, 2024 | 11:15 am
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Archer-Daniels-Midland expects a decrease in its 2024 adjusted EPS, projecting it to be between $5.25 and $6.25, which is lower than the estimated $5.87 and down 18% from 2023.
The projected decrease in adjusted EPS for 2024 by ADM is significant as it reflects an 18% drop from the previous year. This decline is attributed to moderating margin conditions and increased costs, despite an improvement in volumes. Such a forecast is likely to negatively impact investor sentiment in the short term, as expectations of lower earnings typically lead to a decrease in stock price.
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