Archer-daniels-midland Company · NYSE:ADM
Archer-daniels-midland — Q1 2025 Earnings Presentation
21 slides from Archer-daniels-midland's earnings presentation, May 6, 2025
Slide 1: First Quarter 2025 Earnings Conference Call
Proprietary business information of ADM. First Quarter 2025 Earnings Conference Call May 6, 2025 Proprietary business information of ADM.
Slide 2: Cautionary Note Regarding Forward-Looking Statements
2 Cautionary Note Regarding Forward-Looking Statements Proprietary business information of ADM. This presentation contains “forward-looking statements” within These forward-looking statements are not guarantees of future the meaning of the Private Securities Litigation Reform Act of performance and
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures Proprietary business information of ADM. The Company uses certain “Non-GAAP” financial measures as defined by 3. Adjusted Return on Invested Capital (ROIC): Adjusted ROIC is Adjusted 7. Adjusted EBITDA: Adjusted EBITDA is defined as earnings before interest the Securiti
Slide 4: Financial Highlights
4 Financial Highlights Proprietary business information of ADM. Q1 2025 (Unless Otherwise Stated) Q1 2025 Q1 2025 TRAILING 4-QUARTER Reported Earnings Per Share5 Total Segment Operating Profit1,3 Adjusted ROIC1 $0.61 $747M 7.0% Down 57% relative to prior year quarter Down 38% relative to prior year
Slide 5: Self Help: Balancing Cost, Simplification, Investment, and Capital Discipline
5 Self Help: Balancing Cost, Simplification, Investment, and Capital Discipline Proprietary business information of ADM. Execution Simplification Targeted Organic Capital and Cost Focus Focus Growth Investment Discipline 1Q Actions: • Took targeted organizational actions • Scaling 12+ new plant mode
Slide 6: Ag Services & Oilseeds Segment Performance
6 Ag Services & Oilseeds Segment Performance Proprietary business information of ADM. Segment Operating Profit (in millions of dollars) Challenging market conditions, coupled with trade and biofuel policy uncertainty, negatively impacted AS&O operating profit $864 Ag Services: Lower volumes and marg
Slide 7: Carbohydrate Solutions Segment Performance
7 Carbohydrate Solutions Segment Performance Proprietary business information of ADM. Segment Operating Profit (in millions of dollars) Lower Starches & Sweeteners operating profit largely offset by improved results in Vantage Corn Processors $248 $240 $33 Starches & Sweeteners : NA Corn Wet Milling
Slide 8: Nutrition Segment Performance
8 Nutrition Segment Performance Proprietary business information of ADM. Revenue and Segment Operating Profit (in millions of dollars) Revenue down 1% largely due to negative currency impacts; operating profit up 13% due to Flavors and Animal Nutrition Segment Revenue (In millions of dollars) Human
Slide 9: Cash Flows from Operations and Cash Deployment
9 Cash Flows from Operations and Cash Deployment Proprietary business information of ADM. Q1 2025 versus Q1 2024 Solid cash position despite decline in cash from operations before working capital; cash deployment focused on targeted organic investment and dividends Cash from Operations Before Workin
Slide 10: 2025 Outlook
2025 Outlook 10 Proprietary business information of ADM. FY 2025 • Expect to be at the lower end of the adjusted earnings per share guidance range given the Outlook current environment • Expect better crush and biodiesel margins in the second half of the year, as clarity on Adjusted Earnings Per Sha
Slide 11: Our balanced self-help agenda positions ADM for continued success
11 Proprietary business information of ADM. Our balanced self-help agenda positions ADM for continued success Manage through Nutrition Recovery Capital Allocation the Cycle: Productivity + Innovation
Slide 12: Appendix
12 Appendix
Slide 13: Total Segment Operating Profit Reconciliation and Corporate Results
13 Total Segment Operating Profit Reconciliation and Proprietary business information of ADM. Corporate Results Quarter Ended Mar. 31 (Amounts in millions) 2025 2024 Change Earnings before income taxes 353 885 (532) Other Business (earnings) (96) (121) 25 Corporate 441 426 15 Specified items: Impair
Slide 14: Balance Sheet Highlights
14 Balance Sheet Highlights Proprietary business information of ADM. March 31, (Amounts in millions) 2025 2024 Cash $ 864 $ 830 Short-term marketable securities 33 — Net property, plant, and equipment 11,000 10,596 Operating working capital (1) 10,283 10,181 - Total inventories 11,550 11,634 Total d
Slide 15: Cash Flow Highlights
15 Cash Flow Highlights Proprietary business information of ADM. Three Months Ended March 31, (Amounts in millions) 2025 2024 Cash from operations before working capital changes(1,2) $ 439 $ 882 Changes in working capital (781) (182) Purchases of property, plant, and equipment (291) (328) Net assets
Slide 16: GAAP Statement of Earnings Summary
16 GAAP Statement of Earnings Summary Proprietary business information of ADM. Quarter ended March 31, (Amounts in millions except per share data) 2025 2024 Change Revenues 20,175 21,847 (1,672) Cost of products sold 18,995 20,188 (1,193) Gross profit 1,180 1,659 (479) Selling, general and administr
Slide 17: Reconciliation of Adjusted Net Earnings and Adjusted Earnings Per Share (EPS)
17 Reconciliation of Adjusted Net Earnings and Proprietary business information of ADM. Adjusted Earnings Per Share (EPS)(1) Quarter ended March 31, 2025 2024 In millions Per share In millions Per share Net earnings and reported EPS (diluted) $ 295 $ 0.61 $ 729 $ 1.42 Adjustments Impairment, exit, r
Slide 18: ROIC versus WACC CY25
18 Q1 ROIC versus WACC CY25 Proprietary business information of ADM. Trailing 4Q Average ROIC (1)(3) 5.4 % LT ROIC Objective: 10% Trailing 4Q Average Adjusted ROIC(1)(2) 7.0 % Annual WACC 8.3 % Long-Term WACC 7.0 % Trailing 4Q Average Adjusted EVA $(0.4)B 14% 13% 12% 11% 10% 9% 8% 7% 6% 5% Q1 Q1 Q1
Slide 19: Reconciliation of ROIC and Adjusted ROIC
19 Reconciliation of ROIC and Adjusted ROIC Proprietary business information of ADM. ROIC Earnings (Amounts in millions) Four Quarters Quarter Ended Ended Jun. 30, 2024 Sep. 30, 2024 Dec. 31, 2024 Mar. 31, 2025 Mar. 31, 2025 Net earnings attributable to ADM $ 486 $ 18 $ 567 $ 295 $ 1,366 Adjustments
Slide 20: Reconciliation of Adjusted EBITDA
20 Reconciliation of Adjusted Earnings Before Interest, Taxes, Proprietary business information of ADM. Depreciation, and Amortization (EBITDA)(1) (Amounts in millions) Four Quarters Four Quarters Quarter Ended Ended Ended Jun. 30, 2024 Sep. 30, 2024 Dec. 31, 2024 Mar. 31, 2025 Mar. 31, 2025 Mar. 31
Slide 21: Reconciliation of Adjusted Net Debt to Total Debt and Adjusted Net Debt / Adjusted EBITDA
21 (1) Reconciliation of Adjusted Net Debt to Total Debt and Proprietary business information of ADM. Adjusted Net Debt(1) / Adjusted EBITDA(1) Adjusted Net Debt March 31 (Amounts in millions) 2025 2024 Short-term debt $ 2,765 $ 1,734 Current maturities of long-term debt 704 1 Long-term debt 7,596 8
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