Chicago, IL—Archer Daniels Midland Company (ADM) reported their financial results for the first quarter ended March 31, 2019, in a press release. Earnings per share were $0.41, down from Q1 2018 $0.70; Segment operating profit was $611 million, down from Q1 2018 $704 million.
Nutrition results were also down overall, though WFSI results were higher year-over-year, with 21% profit growth spread across all three businesses. ADM reported that WILD Flavors in particular has a "very strong" performance with an increase in year-over-year sales of 11% on a constant currency basis and an improved product mix helping to drive the growth.
“The first quarter proved more challenging than initially expected," Juan Luciano, chairman and CEO of ADM, said in the release. "Impacts from severe weather in North America were on the high side of our initial estimates, and the ethanol industry environment limited margins and opportunities. Despite that, we continue to make excellent progress on our key imperatives for 2019: Improving performance in certain businesses, accelerating our Readiness efforts, and delivering results from our growth investments.”
Read the full release with all results here.
