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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Archer Daniels Midland Company | NYSE:ADM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.63 | 1.08% | 59.00 | 59.46 | 58.26 | 58.69 | 3,746,152 | 01:00:00 |
Archer Daniels Midland Company (NYSE: ADM) CEO Juan Luciano said today that further progress on the company’s strategic plan of optimizing the core, driving operational efficiencies and growing strategically—coupled with a balanced approach to capital allocation—could drive the company’s medium-term earnings power well above the $3.00 level.
Speaking at BMO’s 2015 Farm to Market Conference in New York, Luciano said, “Under normal crop conditions—given the investments and cost-reductions we’ve made—we expect the company to be able to generate ROIC of about 10 percent and an earnings-power range of between $4.00 and $4.50 per share in the medium-term.”
Luciano noted that ADM was on a three-phase value-creation journey that began in 2011, when the company began intensifying its focus on capital discipline, cost reductions and cash generation. The result was a substantial improvement in returns—the company closed out 2014 with trailing four-quarter-average adjusted ROIC of 9.0 percent, which was up 240 basis points year over year.
He added that ADM has now embarked on the second phase of its journey, in which the company is focused on improving earnings power and returns by:
Luciano noted that longer-term, as the company enters the third stage of its value-creation journey, ADM could deliver ROIC above 10 percent, which would exceed its current target of 200 basis points above the company’s long-term WACC of 8 percent.
“ADM has a clear, aggressive strategy to drive earnings growth and returns, and we are executing against that strategy,” he said. “Our focus on value creation, which began at the top, is now being spearheaded by our teams worldwide. They are leading the charge. And through their efforts, we will continue delivering excellent value to customers and shareholders.”
Forward-Looking Statements
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About ADM
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150521006078/en/
Archer Daniels Midland CompanyMedia RelationsJackie Anderson312-634-8484media@adm.com
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