Archer-Daniels-Midland Shares Drop As Q2 EPS Misses Expectations; CEO Sees Margin Improvement
Portfolio Pulse from Nabaparna Bhattacharya
Archer-Daniels-Midland (NYSE:ADM) shares dropped after the company reported Q2 earnings per share of $1.03, missing the analyst consensus of $1.22. Quarterly sales also missed expectations, coming in at $22.248 billion versus the expected $23.177 billion. Despite the miss, CEO Juan Luciano expressed optimism about margin improvements for the rest of the year. ADM reaffirmed its FY24 adjusted EPS guidance of $5.25 – $6.25.
July 30, 2024 | 3:16 pm
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Archer-Daniels-Midland (NYSE:ADM) reported Q2 EPS of $1.03, missing the analyst consensus of $1.22. Quarterly sales also missed expectations, coming in at $22.248 billion versus the expected $23.177 billion. Despite the miss, CEO Juan Luciano expressed optimism about margin improvements for the rest of the year. ADM reaffirmed its FY24 adjusted EPS guidance of $5.25 – $6.25.
The miss on both EPS and revenue expectations is likely to negatively impact ADM's stock price in the short term. However, the CEO's optimism about future margin improvements and the reaffirmation of FY24 EPS guidance may provide some support.
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IMPORTANCE 90
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