Type
|
Public |
---|---|
Traded as | NYSE: ADM S&P 500 Component |
Industry | Food processing Commodities |
Founded | Minneapolis, Minnesota, United States (1902 (1902)) |
Headquarters | 77 West Wacker Drive Chicago, Illinois, United States |
Key people
|
Juan Luciano (President and CEO) |
Products | Corn Syrup, High fructose corn syrup, Feed, Ethanol, Bioenergy Food. |
Revenue | US$62.346 billion (2016) |
Operating income
|
US$1.822 billion (2016) |
Net income
|
US$1.279 billion (2016) |
Total assets | US$39.769 billion (2016) |
Total equity | US$17.181 billion (2016) |
Number of employees
|
32,300 (2016) |
Website | www |
The Archer Daniels Midland Company (ADM) is an American global food processing and commodities trading corporation, headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.
It was named the world's most-admired food-production company by Fortune magazine for three consecutive years: 2009, 2010 and 2011.
The company also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM.
Products include oils and meal from soybeans, cottonseed, sunflower seeds, canola, peanuts, flaxseed, Palm kernel and Diacylglycerol (DAG) oil, as well as corn germ, corn gluten feed pellets, syrup, starch, glucose, dextrose, crystalline dextrose, high fructose corn syrup sweeteners, cocoa liquor, cocoa powder, cocoa butter, chocolate, ethanol, and wheat flour. End uses are consumption by people, livestock, and additives for fuel.
Long known as a food and ingredients company, it has also invested in fuel production. ADM nearly doubled capital spending in its 2007 budget to an estimated $1.12 billion. The increase is planned for bioenergy projects, focusing on bioethanol and biodiesel.
The Oilseeds Processing segment includes global activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals.
ADM's Corn Processing segment is engaged in corn wet milling and dry milling activities, with its asset base primarily located in the central part of the United States. The Corn Processing segment converts corn into sweeteners and starches, and bioproducts. Its products include ingredients used in the food and beverage industry including sweeteners, starch, syrup, glucose (dextrose). Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations.
ADM's Agricultural Services segment uses its U.S. grain elevator, global transportation network, and port operations to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
ADM Investor Services, Inc. is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the U.S. ADM Investor Services International, Ltd., a member of commodity exchanges and clearing houses in Europe, and ADMIS Hong Kong Limited, offer broker services in Europe and Asia.
ADM'S captive insurance services, which include Agrinational Insurance Company (Agrinational), provides insurance coverage for certain property, casualty, marine, credit, and other miscellaneous risks of the Company and participates in certain third-party reinsurance arrangements.
ADM's Crop Risk Services is a managing general agent which sells and services crop insurance policies to farmers.
In 1902, George A. Archer and John W. Daniels began a linseed crushing business in Minneapolis, Minnesota. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. ADM expanded its agribusiness to include milling, processing, specialty food ingredients, and cocoa.
In 1970, Dwayne Andreas became the chief executive officer of ADM, and is credited with transforming the firm into an industrial powerhouse. Andreas remained CEO until 1997 before his nephew G. Allen Andreas was named to this position. He was one of the most prominent political campaign donors in the United States, having contributed millions of dollars to Democratic and Republican candidates alike.
In 2001, Paul B. Mulhollem became the company's president. Under his guidance, the company was the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed October 1960.
In May 2006, Patricia A. Woertz became the company's chief executive officer. Formerly of Chevron, she was expected to focus on developing ethanol and biofuels. In February 2007, Ms. Woertz was elected Chairman of the Board at ADM.
Starting in October 2012, the company sought to acquire strategic holdings to support serving Asian markets through acquisition of GrainCorp, an Australian grain firm with a network of storage and port facilities in Australia. On 29 Nov 2013, this acquisition was blocked by the Australian Treasurer.
On July 7, 2014, the company said that it will buy Swiss-German natural ingredient company Wild Flavors for $3 billion, a move aimed at diversifying the company and helping brands appeal to consumers who increasingly favor foods with natural ingredients and flavorings.
On November 5, 2014, ADM announced that effective January 1, 2015, Juan Luciano will become the company's new CEO. Luciano was hired on in 2011 as the company's Chief Operating Officer. Woertz will retain the position of Chairman of the Board until 2016 when she is expecting to retire.
In October 2015, ADM announced the sale of its global cocoa business to Olam. The sale is valued at about $1.2 billion. Approximately 1,500 employees transferred to Olam with the sale.
In January 2017, Archer Daniels Midland agreed to sell its crop risk services (insurance) unit to Validus Holdings for $127.5 million.
In 1920 the US Department of Justice brought suit against the National Linseed Oil Trust for violating the Sherman Antitrust Act. Several co-defendants were named, including the Archer-Daniels Manufacturing Company. The suit alleged all of these companies were acting in collusion to raise prices, citing a spike in linseed oil costs between 1916 and 1918, when the price rose from $.50 per gallon to $1.80.
In 1993, the company was the subject of a lysine price-fixing investigation by the U.S. Justice Department. Senior ADM executives were indicted on criminal charges for engaging in price-fixing within the international lysine market. Three of ADM's top officials, including vice chairman Michael Andreas were eventually sentenced to federal prison in 1999. Moreover, in 1997, the company was fined $100 million, the largest antitrust fine in U.S. history at the time. Mark Whitacre, FBI informant and whistleblower of the lysine price-fixing conspiracy, would also find himself in legal trouble for embezzling money from ADM during his time as an informant for the FBI. In addition, according to ADM's 2005 annual report, a settlement was reached under which ADM paid $400 million in 2005 to settle a class action antitrust suit.
The Informant is a nonfiction thriller book that documents the mid-1990s lysine price-fixing conspiracy case and the involvement of ADM executive Mark Whitacre. The book was adapted into the 2009 film The Informant!. This case has also been featured on episode 168 of This American Life called The Fix Is In.
On December 20, 2013 the SEC announced that it had charged ADM for failing to prevent illicit payments (bribes) made by its foreign subsidiaries to Ukrainian government officials in violation of the FCPA. ADM agreed to pay more than $36 million to settle the SEC's charges.
The company has been the subject of several major federal lawsuits related to air pollution. In 2001, it agreed to pay a $1.46 million fine for violating federal and Illinois clean-air regulations at its Decatur feed plant and to spend $1.6 million to reduce air pollution there. In 2003, the company settled federal air pollution complaints related to the its efforts to avoid New Source Review provisions of the Clean Air Act that require pollution control upgrades when a plant is modernized. The company paid $4.5 million in penalties and more than $6 million to support environmental projects. In addition, ADM agreed to eliminate more than 60,000 tons of emissions of carbon monoxide, particulate matter, organic volatile chemicals and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars.
ADM is involved in a joint project with Daimler AG and Bayer CropScience to develop jatropha as a biofuel.
In an attempt to reduce its carbon footprint, the company has partnered with the Midwest Geological Sequestration Association and other organizations to test the disposal of carbon dioxide emissions underground. If testing is successful, beginning in late 2010 the company expected to dispose of 1,000 metric tons per day of carbon dioxide emissions currently being released to the atmosphere.
The company lobbies for agricultural subsidies and price supports including sugar and ethanol. According to a 1995 report by the libertarian think tank Cato Institute, "ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its bioethanol operation costs taxpayers $30."
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q4 2022 | 2023-04-25 | Future report Set alerts | |
Q3 2022 | 2022-10-25 | 1.86 | 1.86 |
Q2 2022 | 2022-07-26 | 2.15 | 2.15 |
Q1 2022 | 2022-04-26 | 1.90 | 1.90 |
Q4 2021 | 2022-01-25 | 1.50 | 1.50 |
Q3 2021 | 2021-10-26 | 0.97 | 0.97 |
Q2 2021 | 2021-07-27 | 1.33 | 1.33 |
Q1 2021 | 2021-04-27 | 1.39 | 1.39 |
Q4 2020 | 2021-01-26 | 1.21 | 1.21 |
Q3 2020 | 2020-10-29 | 0.89 | 0.89 |
2016-07-12 | Initiated Coverage | BB&T Corp. | Hold | |
2016-06-16 | Reiterated Rating | Morgan Stanley | Hold | |
2016-06-06 | Reiterated Rating | Stephens | Hold | |
2016-05-26 | Upgrade | Citigroup Inc. | Neutral to Buy | $42.00 to $50.00 |
2016-05-24 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $40.44 to $48.00 |
2016-05-04 | Reiterated Rating | BMO Capital Markets | Hold | |
2016-05-03 | Boost Price Target | Credit Suisse | Neutral | $39.00 to $40.00 |
2016-05-03 | Boost Price Target | Citigroup Inc. | Hold to Neutral | $35.00 to $42.00 |
2016-05-03 | Boost Price Target | Credit Suisse Group AG | Neutral | $39.00 to $40.00 |
2016-04-28 | Downgrade | Standpoint Research | Buy to Hold | |
2016-04-22 | Upgrade | JPMorgan Chase & Co. | Underweight to Neutral | $30.00 to $36.00 |
2016-03-07 | Downgrade | Bank of America | Buy to Neutral | $40.00 |
2016-03-07 | Downgrade | Bank of America Corp. | Buy to Neutral | $40.00 |
2016-02-12 | Downgrade | Argus | Buy to Hold | |
2016-02-03 | Lower Price Target | Goldman Sachs | Neutral | $43.00 to $39.00 |
2016-02-03 | Lower Price Target | BMO Capital Markets | Market Perform | $43.00 to $33.00 |
2016-02-03 | Lower Price Target | Goldman Sachs Group Inc. | Neutral | $43.00 to $39.00 |
2016-01-27 | Reiterated Rating | Bank of America | Buy | $49.00 to $42.00 |
2016-01-15 | Lower Price Target | Goldman Sachs | $46.00 to $43.00 | |
2016-01-07 | Upgrade | Standpoint Research | Hold to Buy | |
2015-11-20 | Downgrade | Stephens | Overweight to Equal Weight | $50.00 to $40.00 |
2015-11-13 | Lower Price Target | JPMorgan Chase & Co. | Underweight | $42.00 to $38.00 |
2015-11-04 | Boost Price Target | Buckingham Research | Neutral | $45.00 to $49.00 |
2015-11-04 | Lower Price Target | BMO Capital Markets | Market Perform | $52.00 to $48.00 |
2015-10-19 | Initiated Coverage | Buckingham Research | Neutral | $49.00 |
2015-09-29 | Reiterated Rating | Credit Suisse | Neutral | $47.00 |
2015-08-05 | Lower Price Target | Scotiabank | $57.00 to $54.00 | |
2015-07-29 | Downgrade | Citigroup Inc. | Buy to Neutral | $55.00 to $51.00 |
2015-07-07 | Initiated Coverage | Vertical Research | Hold | $52.00 |
2015-04-02 | Set Price Target | Citigroup Inc. | Buy | $57.00 to $55.00 |
2015-02-04 | Set Price Target | Credit Suisse | Hold | $52.00 |
2015-01-30 | Boost Price Target | Miller Tabak | Hold | $51.00 to $53.00 |
2015-01-20 | Downgrade | JPMorgan Chase & Co. | Neutral to Underweight | $45.00 to $41.00 |
2015-01-15 | Downgrade | Goldman Sachs | Buy to Neutral | |
2015-01-08 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $58.00 to $52.00 |
2014-12-16 | Boost Price Target | Citigroup Inc. | Buy | $52.00 to $57.00 |
2014-12-04 | Downgrade | Miller Tabak | Buy to Hold | $53.00 |
2014-11-28 | Boost Price Target | Argus | Buy | $57.00 to $61.00 |
2014-11-11 | Reiterated Rating | Bank of America | Buy | $58.00 |
2014-10-28 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $48.00 to $45.00 |
2014-10-14 | Reiterated Rating | Citigroup Inc. | Buy | $56.00 to $52.00 |
2014-09-04 | Initiated Coverage | Janney Montgomery Scott | Buy | |
2014-08-20 | Boost Price Target | Argus | Buy | $49.00 to $57.00 |
2014-07-18 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $46.00 to $48.00 |
2014-07-09 | Reiterated Rating | Citigroup Inc. | Buy | $50.00 to $53.00 |
2014-07-07 | Upgrade | Miller Tabak | Hold to Buy | |
2014-04-30 | Upgrade | Stephens | Equal Weight to Overweight | $52.00 |
2014-04-04 | Boost Price Target | Citigroup Inc. | Buy | $5.00 to $50.00 |
2014-03-10 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $42.00 to $50.00 |
2014-02-05 | Upgrade | Scotiabank | Sector Perform to Outperform | |
2014-02-05 | Upgrade | Citigroup Inc. | Neutral to Buy | $45.00 |
2014-01-07 | Downgrade | Stephens | Overweight to Equal Weight | |
2013-12-24 | Initiated | Stifel | Hold | |
2013-12-24 | Initiated Coverage | Stifel Nicolaus | Buy to Hold | |
2013-12-17 | Initiated Coverage | Macquarie | Outperform | |
2013-12-09 | Initiated Coverage | Credit Suisse | Neutral | $44.00 |
2013-12-02 | Initiated Coverage | Citigroup Inc. | Neutral | $45.00 to $35.00 |
2013-11-18 | Downgrade | Ned Davis Research | Buy to Neutral | |
2013-10-31 | Upgrade | Argus | Hold to Buy | $49.00 |
2013-10-30 | Boost Price Target | Scotiabank | $39.00 to $43.00 | |
2013-10-30 | Boost Price Target | BMO Capital Markets | Market Perform | $36.00 to $42.00 |
2013-10-21 | Upgrade | Bank of America | Underperform to Buy | $36.00 to $44.00 |
2012-08-15 | Upgrade | Standpoint Research | Hold to Buy | $33 |
2012-05-01 | Downgrade | Standpoint Research | Buy to Hold | |
2011-11-07 | Initiated | Ticonderoga | Neutral | |
2011-10-17 | Initiated | Argus | Hold | |
2011-08-08 | Upgrade | Standpoint Research | Hold to Buy | $33 |
2011-03-22 | Initiated | Stifel Nicolaus | Buy | $44 |
2010-12-16 | Initiated | Jefferies | Hold | $34 |
2010-09-14 | Downgrade | Stanford Research | Buy to Hold | |
2010-02-05 | Upgrade | Deutsche Bank | Hold to Buy | $35 |
2010-01-20 | Upgrade | Citigroup | Hold to Buy | $33 to $37 |
2009-09-30 | Upgrade | BMO Capital Markets | Market Perform to Outperform | |
2009-08-05 | Downgrade | Oppenheimer | Outperform to Perform | |
2009-05-22 | Upgrade | Citigroup | Sell to Hold | |
2009-04-08 | Downgrade | Soleil | Buy to Sell | $33 to $22 |
2009-04-07 | Downgrade | Citigroup | Hold to Sell | |
2009-02-04 | Downgrade | JP Morgan | Overweight to Neutral | |
2008-12-01 | Downgrade | BMO Capital Markets | Outperform to Market Perform |
2016-07-12 | Initiated Coverage | BB&T Corp. | Hold | |
2016-06-16 | Reiterated Rating | Morgan Stanley | Hold | |
2016-06-06 | Reiterated Rating | Stephens | Hold | |
2016-05-26 | Upgrade | Citigroup Inc. | Neutral to Buy | $42.00 to $50.00 |
2016-05-24 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $40.44 to $48.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In ADM 692 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
Vanguard Group, Inc | 62.97M |
BlackRock Inc. | 44.15M |
Capital World Investors | 42.00M |
STATE STREET CORP | 31.77M |
BlackRock Institutional Trust Company, N.A. | 17.59M |
Capital International Investors | 13.06M |
NORTHERN TRUST CORP | 12.17M |
WELLINGTON MANAGEMENT CO LLP | 11.76M |
GEODE CAPITAL MANAGEMENT, LLC | 10.16M |
BlackRock Fund Advisors | 8.11M |
BlackRock Group LTD | 7.63M |
MORGAN STANLEY | 6.17M |
MACQUARIE GROUP LTD | 5.87M |
LEGAL & GENERAL GROUP PLC | 4.32M |
FMR LLC | 4.13M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
CARTER MOLLIE H | 0.35% (2262660) | ADM / WR / |
WOERTZ PATRICIA A President & CEO | 0.12% (750508) | ADM / MMM / PG / |
LUCIANO JUAN R Executive V.P. & COO | 0.05% (318709) | ADM / LLY / |
Young Ray G Chief Financial Officer | 0.05% (308003) | ADM / IP / |
D AMBROSE MICHAEL Senior Vice President | 0.03% (198622) | ADM / |
Taets Joseph D. Vice President | 0.03% (181213) | ADM / |
FINDLAY D CAMERON Senior Vice President | 0.03% (177892) | ADM / MDT / |
JANSEN MATTHEW J Senior Vice President | 0.03% (167932) | ADM / |
Bemis Mark Senior Vice President | 0.02% (124493) | ADM / |
Morris Gregory A Senior Vice President | 0.02% (120058) | ADM / |
Cuddy Christopher M President-Corn | 0.02% (116618) | ADM / |
Macciocchi Vincent F Senior Vice President | 0.01% (87010) | ADM / |
Kampfe Randall R Vice President | 0.01% (49054) | ADM / |
Hess Kevin Vice President | 0.01% (46183) | ADM / |
Herzfeld Shannon Vice President | 0.01% (46114) | ADM / |
Luthar Vikram Group Vice President, Finance | 0.01% (42734) | ADM / |
Stott John P Vice President & Controller | 0.01% (41761) | ADM / |
Lastra Domingo A. Vice President | 0.01% (37045) | ADM / |
Roig Ismael Vice President | 0.01% (33879) | ADM / |