ADM Expects AG Sees FY24 Services & Oilseeds Operating Profit To Be "Significantly Lower" Versus Prior Year; Expects Lower Q3, Slightly Lower Operating Profit For Carbohydrate Solutions Segment From Last Year; Expects Higher Q3, Higher FY24 Operating Profit For Nutrition Segment From Last Year
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ADM expects a significant decrease in FY24 operating profit for its Services & Oilseeds segment compared to the prior year. The Carbohydrate Solutions segment is expected to see a slight decrease in Q3 operating profit. However, the Nutrition segment is projected to have higher Q3 and FY24 operating profits.
July 30, 2024 | 1:41 pm
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ADM anticipates a significant decline in FY24 operating profit for its Services & Oilseeds segment, a slight decrease in Q3 operating profit for Carbohydrate Solutions, but higher Q3 and FY24 operating profits for the Nutrition segment.
The significant decline in operating profit for the Services & Oilseeds segment and the slight decrease in Q3 profit for Carbohydrate Solutions are likely to negatively impact ADM's stock in the short term. However, the higher profits expected in the Nutrition segment may provide some positive offset.
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