Archer-Daniels-Midland Stock Dips After Q3 Preliminary Results: Earnings Miss, Guidance Cut Amid Restatements

Archer-Daniels-Midland Company (NYSE:ADM) shares are trading lower on Tuesday.

Yesterday, the company reported third-quarter preliminary adjusted earnings per share of $1.09, compared with street view of $1.25.

The company will restate previously filed fiscal year 2023 Form 10-K and subsequent Forms 10-Q. The company said it has decided to postpone the webcast originally scheduled for November 5 at 9 a.m. Central Time.

The restated filings will include corrections for newly identified errors related to intersegment sales, will reflect the previously-corrected errors, and will provide disclosures applicable to restated segment information.

“Our third quarter operating results were mixed in a challenging quarter for the business,” said Chair of the Board and CEO Juan Luciano.

Archer-Daniels-Midland said net ...