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ADM Reports Q2 Earnings

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Second-quarter results delivered record earnings, with strong year-over-year profit growth across all three business units.

ADM has released financial results for the quarter ended June 30, 2021.

Chairman and CEO, Juan Luciano, said, “It was yet another excellent quarter for ADM, as our team delivered record earnings, with strong year-over-year profit growth across all three business units.” 

Below are the Q2 report details:

Related: ADM to Acquire Sojaprotein

  • Q2 net earnings of $712 million; adjusted net earnings of $754 million.
  • Segment operating profit up more than 40%.
  • ROIC of 9.7%, significantly higher than the prior-year period’s 8.1%.
  • 27% year-over-year Q2 operating profit growth in nutrition, raising segment’s OP growth expectations for full-year to 20%.
  • Ag services and oilseeds delivered operating profits almost 40% higher than the previous year’s quarter.
  • Carbohydrate solutions results were almost double those of the prior-year period.
  • Nutrition delivered a record Q2, with 15% revenue growth and 27% higher year-over-year profits.
  • Other business results were substantially lower than the prior-year period, driven primarily by captive insurance underwriting losses, most of which were offset by corresponding recoveries in other business segments.

Chairman and CEO, Juan Luciano, said, “It was yet another excellent quarter for ADM, as our team delivered record earnings, with strong year-over-year profit growth across all three business units.”

Luciano continued, “This is a very different ADM than even a few short years ago, and our transformation is far from over. Our productivity efforts are powering our execution, and—combined with our unparalleled global footprint and strong risk management—supported outstanding results in both ag services and oilseeds and carbohydrate solutions. And we’re driving innovation, which helped support record top-line and bottom-line results in nutrition; in fact, we are now raising our expectations of full-year profit growth for nutrition to 20%.”

Luciano concluded, “We’re excited about our growth trajectory as we continue to expand our participation in large and fast-growing categories, from alternative proteins to renewable green diesel to plant-based biosolutions, with all of our strategic efforts underpinned by our unique opportunity to use ADM’s integrated value chain to advance decarbonization of the food and agriculture industries. Given our great start to the year and our expectation of continued momentum in the second half, we are confident in delivering very strong full-year earnings, and we remain well-positioned for robust, sustained growth in the years to come.”

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