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EnergyADM posts 76% Q1 profit jump, sees strong 2021 as COVID restrictions ease
ReutersArunima KumarKarl Plume
3 minutes read
Soybeans are harvested from a field on Hodgen Farm in Roachdale, Indiana, U.S. November 8, 2019. REUTERS/Bryan Woolston
Archer Daniels Midland Co (ADM.N) reported a surge in first-quarter profit on Tuesday and forecast significant year-over-year growth in 2021 as coronavirus vaccinations accelerate and pandemic restrictions continue to ease, sending shares to a record high.
Quarterly profit jumped 76% as robust import demand from China and strong oilseed crushing margins boosted the U.S. grains merchant s core agricultural services and oilseeds unit.
ADM results offered an early glimpse into how the world s largest grain traders are emerging from the pandemic that triggered massive shifts in food and fuel demand as consumers cooked more meals at home and avoided unnecessary travel.
4/27/2021
By Karl Plume and Arunima Kumar
April 27 (Reuters) - Archer Daniels Midland Co
reported a 76% jump in first-quarter profit on Tuesday as robust
import demand from China and strong oilseed crushing margins
boosted the U.S. grains merchant s core agricultural services
and oilseeds unit.
The company forecast significant year-over-year growth in
2021 as coronavirus vaccinations accelerate and pandemic
restrictions continue to ease on some markets, lifting demand
for the company s food, feed and biofuel products.
ADM results offered an early glimpse into how the world s
largest grain traders are emerging from the pandemic that
triggered massive shifts in food and fuel demand as consumers
ADM stock gains after earnings beat
Shares of Archer-Daniels Midland Co. are up 2.5% in premarket trading Tuesday after the food-processing company topped earnings and revenue expectations for its first quarter. The company reported net income of $689 million, or $1.22 a share, up from $391 million, or 69 cents a share, in the year-earlier period. After adjusting for impairment, restructuring, and other factors, ADM posted per-share earnings of $1.39, up from 64 cents a year prior and ahead of the $1.04 that analysts surveyed by FactSet had been projecting. Revenue for the March quarter rose to $18.9 billion from $15.0 billion, while analysts were expecting $16.3 billion. ADM saw $15.0 billion in revenue from its ag services and oilseeds business, $2.2 billion in revenue from its carbohydrate solutions business, $1.6 billion in revenue from its nutrition business, and $100 million in other revenue. ADM noted in a press release that its “calendar-year outlook for 2021 substantially
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for the Groundnut Oil market. The report also aids buyers with relevant Groundnut Oil pricing levels, pros, and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
Key Drivers and Trends Fueling Market Growth:
The pressure from substitutes and a moderate level of threat from new entrants has resulted in the low bargaining power of suppliers.
Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 3.00%-5.00%.