ADM is a global leader in agricultural supply chain management and processing, offering a diverse range of products and solutions across three main business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The company is involved in the origination, merchandising, transportation, and storage of agricultural raw materials, and processes oilseeds into vegetable oils and protein meals . ADM also converts corn and wheat into sweeteners, starches, syrups, glucose, and dextrose, and produces industrial alcohol . Additionally, ADM provides plant-based proteins, natural flavors, probiotics, and animal health and nutrition products .
- Ag Services and Oilseeds - Manages the origination, merchandising, transportation, and storage of agricultural raw materials, and processes oilseeds into vegetable oils and protein meals. Supplies peanuts and peanut-derived ingredients and engages in structured trade finance activities .
- Carbohydrate Solutions - Converts corn and wheat into products such as sweeteners, starches, syrups, glucose, and dextrose, and produces alcohol for industrial use. Involved in carbon capture and sequestration initiatives .
- Nutrition - Provides ingredients and solutions including plant-based proteins, natural flavors, and probiotics, and processes and distributes animal health and nutrition products .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Juan R. Luciano ExecutiveBoard | Chair of the Board, CEO, and President | Lead Director at Eli Lilly and Company; Director at Rush University Medical Center; Board Member at Intersect Illinois; Member of Economic Club of Chicago, Commercial Club of Chicago, and The Business Roundtable | Joined ADM in 2011 as EVP and COO; became President in 2014, CEO in 2015, and Chair in 2016. Led ADM's transformation into a global nutrition business and spearheaded sustainability and innovation strategies. | View Report → |
Carrie Nichol Executive | Vice President and Chief Accounting Officer | None available | Appointed in 2025. Previously SVP and CAO at Cargill and CAO at Zimmer Biomet. Oversees ADM's accounting, reporting, and risk management functions. | |
Christopher M. Cuddy Executive | Senior Vice President and President, Carbohydrate Solutions | None available | Joined ADM over 25 years ago. Leads the Carbohydrate Solutions business unit. Achieved record earnings in North America Starch and Corn Syrups and advanced decarbonization initiatives. | |
Gregory A. Morris Executive | Senior Vice President and President, Agricultural Services and Oilseeds | None available | Joined ADM in 2014. Leads the Agricultural Services and Oilseeds business unit. Previously President of Global Oilseeds Processing. | |
Monish Patolawala Executive | Executive Vice President and CFO | Board Member at Biogen Inc. | Joined ADM in 2024 as CFO. Previously held leadership roles at 3M and GE, including CFO of GE Healthcare. Oversees global finance, accounting, technology, and strategy at ADM. | |
Regina Bynote Jones Executive | Senior Vice President, General Counsel | None available | Appointed in 2023. Previously Chief Legal Officer at Baker Hughes and EVP, General Counsel at Delek US Holdings. Oversees ADM's legal and compliance functions. | |
David R. McAtee II Board | Director | None available | Joined ADM's Board in 2024. Former Senior EVP and General Counsel at AT&T Inc., overseeing legal matters, governance, and strategic planning. | |
Kelvin R. Westbrook Board | Director | Director at T-Mobile US, Inc., Mosaic Company, and Camden Property Trust; Board Member at Boys and Girls Clubs of Greater St. Louis and BioSTL; Advisory Board Chair at University of Washington Foster School of Business | Joined ADM's Board in 2003. President and CEO of KRW Advisors, LLC. Former Chairman and CEO of Millennium Digital Media Systems. |
- Given the material weaknesses identified in your internal controls and financial reporting, can you elaborate on the specific steps you are taking to remediate these issues and ensure integrity moving forward?
- You've lowered your full year 2024 adjusted earnings per share guidance due to internal operational challenges and slow market demand; can you provide more detail on these challenges and how you plan to address them?
- With regulatory uncertainty impacting canola crush margins and delays in new nutrition projects due to customer cost management, what strategies are you implementing to mitigate these headwinds and drive growth in these areas?
- Considering your plans to optimize the portfolio through targeted divestitures or rationalizations, can you specify which areas or assets you're evaluating and how these actions will enhance shareholder value?
- As you focus on capital allocation and mentioned capital expenditures of approximately $1.5 billion, how are you balancing necessary maintenance investments with opportunities in digital enhancements and operational improvements in a challenging market environment?
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Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Vandamme Hugaria Kft | 2025 | Completed on January 31, 2025, this acquisition involved a $123 million deal (subject to working capital adjustments) for a 700 metric ton/day non-genetically modified crush and extraction facility in Hungary. |
Revela Foods | 2024 | Acquired in January 2024 for $656 million (subject to working capital adjustments), Revela Foods is a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients that strengthens ADM’s Nutrition segment. |
Fuerst Day Lawson Ltd. (FDL) | 2024 | Completed in January 2024, FDL (a UK-based leading developer of premium flavor and functional ingredient systems) was acquired as part of a broader $948 million cash consideration, with approximately $250 million allocated to FDL, enhancing ADM’s sustainability-driven innovation portfolio. |
PT Trouw Nutrition Indonesia | 2024 | Acquired in February 2024 for $18 million (subject to working capital adjustments), this deal added a leading provider of functional and nutritional solutions for livestock farming in Indonesia to ADM’s Human and Animal Nutrition businesses. |
Totally Natural Solutions (TNS) | 2024 | Completed in the first half of 2024 for an aggregate cash consideration of $22 million, the acquisition of this UK-based hops flavoring producer expanded ADM’s innovative flavor solutions in the Nutrition segment. |
D.C.A. Finance B.V. | 2023 | Announced in May 2023 for a commodity derivative brokerage service provider, this acquisition is pending completion subject to required regulatory approvals, reflecting ADM’s strategic move into derivative services. |
Comhan | 2022 | Completed in February 2022, this acquisition of a leading South African flavor distributor aligns with ADM’s strategy to expand its portfolio in the flavor and specialty ingredients market. |
Recent press releases and 8-K filings for ADM.
- ADM and Alltech will form a North American animal feed joint venture combining ADM’s 11 U.S. feed mills with Alltech’s 18 U.S. and 15 Canadian mills, set to launch in Q1 2026.
- The joint venture will be majority-owned by Alltech but governed by a board with equal representation from both companies.
- Both firms will retain certain business units to continue supplying the joint venture, with no material impact on ADM’s 2025 financial results.
- The partnership supports ADM’s strategic shift toward higher-margin specialty ingredients and portfolio optimization amid growing global demand.
- Delivered $0.93 EPS in Q2, outpacing expectations, and maintained $4.00 FY 2025 EPS guidance, citing stronger Q4 crush margins from finalized RVOs and peak U.S. harvest export logistics.
- Targeting $500–750 million in aggregate cost reductions over the next 3–5 years, with $200–300 million expected in FY 2025 alone, driven by portfolio simplification and productivity initiatives.
- Prioritizing capital toward asset productivity and internal innovation, funded a 2% dividend increase (50th consecutive year) while balancing share buybacks and strategic M&A.
- Nutrition segment’s Decatur East protein plant is back online, providing an incremental $20–25 million per quarter in operational EBITDA and enabling a rebuild of market share through network optimization.
- Plans to cease operations at its Bushnell, Illinois facility to consolidate its soy protein production network and enhance global efficiency.
- Leverage recently recommissioned Decatur East plant and other invested assets to serve customers and optimize capacity.
- Aimed at portfolio optimization through cost management, productivity gains, and simplification to improve operating profit over time.
- Committed to a smooth transition for affected customers and respectful treatment of colleagues during the wind-down.
- Brazil’s antitrust regulator CADE has opened an investigation into 30 soybean traders and two industry groups, including Archer-Daniels-Midland Co, over concerns the Soy Moratorium may function as an anti-competitive purchasing cartel.
- CADE ordered a suspension of coordinated compliance checks and information sharing among moratorium participants and warned of potential fines up to 20% of prior year revenue for traders and up to 2 billion reais for associations.
- Environmental groups warn the probe threatens Amazon protection, while industry associations defend the nearly two-decade agreement; the suspension takes effect ahead of the COP30 climate summit.
- ADM reported adjusted EPS of $0.70 (down 52% YoY) and GAAP EPS of $0.61 (down 57% YoY) for Q1 2025, with net earnings of $295M and adjusted net earnings of $338M.
- Total segment operating profit reached $747M in Q1 2025, reflecting a 38% decline YoY.
- ADM reaffirmed its full-year guidance with an adjusted EPS range of $4 to $4.75, even as market challenges push expectations to the lower end.
- Cash flow from operations of $439M was reported—with a decline of $443M in cash flows before working capital—and $247M was returned to shareholders.
- The company is advancing its cost savings initiative of $500–750 million over 3–5 years, including actions like network optimization and shutting down facilities such as the Kershaw plant.
- The Nutrition segment delivered $1.8B in revenues (down 1%) with a 13% increase in operating profit thanks to improvements in flavors and animal nutrition.