Bulletin: Archer Daniels Midland Co. Delivers Solid Earnings On Continued Industry Tailwinds

CHICAGO (S&P Global Ratings) Oct. 29, 2021--S&P Global Ratings today said that its ratings on Archer Daniels Midland Co. (ADM; A/Stable/A-1) are unchanged following the release of the company's solid third-quarter results. ADM?s strong performance was supported by its agricultural oilseeds and nutrition businesses, which continue to benefit from favorable industry dynamics. The company expanded its S&P Global Ratings-adjusted EBITDA by over 45% in the first three quarters of 2021, relative to the same period the prior year, because it benefited from strong demand for vegetable oil and favorable soybean crush margins. In addition, it increased the revenue from its nutrition business by 20%, supported by strong performances across its various human and animal nutrition categories. This was partly offset

...CHICAGO (S&P Global Ratings) Oct. 29, 2021--S&P Global Ratings today said that its ratings on Archer Daniels Midland Co. (ADM; A/Stable/A-1) are unchanged following the release of the company's solid third-quarter results. ADM's strong performance was supported by its agricultural oilseeds and nutrition businesses, which continue to benefit from favorable industry dynamics. The company expanded its S&P Global Ratings-adjusted EBITDA by over 45% in the first three quarters of 2021, relative to the same period the prior year, because it benefited from strong demand for vegetable oil and favorable soybean crush margins. In addition, it increased the revenue from its nutrition business by 20%, supported by strong performances across its various human and animal nutrition categories. This was partly offset by a moderate deterioration in the profit from ADM's carbohydrate solutions segment, which was due to input cost inflation that negatively affected its starches and sweeteners business. The...

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