ADM Is On A Roll

Apr 30, 2021

We are in the midst of the first earnings season of the year, and if you’re ADM, things are looking mighty fine.

ADM just dropped their first-quarter financials, and while they may have been overshadowed by all the #Plant21 selfies on Twitter, they definitely caught our attention.

By the numbers:

  • ADM reported a 76% increase in quarterly profits, rising from just 69 cents per share a year ago to $1.22 per share.
  • Overall revenue for the grain giant blew projections away, jumping to $18.89 billion, a 26% increase.
  • The company’s Ag Services & Oilseed segment posted a record quarter with operating profits of $777 million, an 84% increase.

ADM’s CEO Juan Luciano said that the impressive quarter could largely be attributed to the ever-growing demand for imported grain in China. The company also brought two ethanol plants back online as demand continues to rise.

But wait, there’s more: Earlier this month, the company opened a new “Plant-Based Innovation Lab” in Singapore. ADM hopes this new facility will drive new, versatile product offerings in the trendy plant-based protein market.