Irga-RS Field Day brings together 1.200 people in Cachoeirinha
RS14 Rice System was launched during the event
ADM (Archer-Daniels-Midland Company) has released its financial results for the fourth quarter and full year 2024. The company reported a net income of $1,8 billion for the year, with earnings per share (EPS) of $3,65. These figures represented a decrease of 47% compared to the previous year.
In the fourth quarter, ADM saw its pre-tax profit decline 9% to $667 million. Earnings per share were $1,17, up 10% from the same period in 2023. However, adjusted earnings per share fell 16% to $1,14.
“We are focused on improving our operational performance, accelerating cost savings and simplifying our portfolio. As part of this effort, we are announcing targeted actions to deliver $500 to $750 million in cost savings over the next few years. This represents a continuation of ADM’s commitment to drive simplification and better align our resources to deliver long-term, sustainable growth,” said Juan Luciano, the company’s CEO.
The company announced targeted actions to save $500 million to $750 million over the next three to five years.
ADM said it expects to achieve the majority of cost savings on an annual run rate basis through improvements in manufacturing costs, reductions in purchased materials and services, and targeted workforce reductions.
The company also said it expects to reduce its workforce by approximately 600 to 700 roles globally by 2025.
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