Archer-Daniels Midland Co

ADM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$88.00	Hgvnv	Mzpcwcfn

Archer-Daniels Midland Earnings: Lower Profits in Line With Our Outlook for Return to Midcycle

Seth Goldstein

Jul 30, 2024

Archer-Daniels Midland's second-quarter results reflected the continuing normalization of the ag services and oilseeds business back to midcycle conditions following the cyclical peak in 2022 and subsequent profit decline. Ag services and oilseeds, which generate the majority of companywide profits, fell over 56% versus the prior-year quarter as lower crop prices reduced grain trading opportunities and lower soy crush margins weighed on crushing profits.

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