ADM has recently taken a 75% ownership stake in PetDine, sold its Peoria ethanol complex, signed a Memorandum of Understanding with Gevo, Inc., for the production of sustainable aviation fuel, and signed an agreement with LG Chem to explore U.S.-based production of plant-based biosolutions.
Third quarter highlights include:
| (Amounts in millions except per share amounts) | 2021 | 2020 | |||||
| Earnings per share (as reported) | $ | 0.93 | $ | 0.40 | |||
| Adjusted earnings per share1 | $ | 0.97 | $ | 0.89 | |||
| Segment operating profit | $ | 1,000 | $ | 904 | |||
| Adjusted segment operating profit (loss)1 | $ | 1,002 | $ | 849 | |||
| Ag Services and Oilseeds | 618 | 436 | |||||
| Carbohydrate Solutions | 213 | 246 | |||||
| Nutrition | 176 | 147 | |||||
| Other Business | (5) | 20 | |||||
Related: ADM Points to 8 Trends for 2022 Hain Reports Q4, FY 2021 Results, and FY 2022 Outlook ADM, LG Chem Agree to Multiple Joint Ventures
“Agile execution across our tightly integrated supply chain amid an environment of strong demand and robust crush margins, and continued impressive growth in Nutrition, drove our eighth consecutive quarter of year-over-year adjusted operating profit growth,” said Chairman and CEO Juan Luciano. “Our team’s great ability to leverage the favorable operating environment, and the consistent implementation of our strategic plan, have put ADM on track for a strong fourth quarter culminating in a second consecutive year of record earnings per share. And as we look ahead, we remain optimistic in sustainable earnings growth in the medium term as we continue to execute our strategy, including the dynamic positioning of our business portfolio.”
