Archer-Daniels-Midland Company (ADM) Q3 2022 Earnings Call Transcript

Archer-Daniels-Midland Company (NYSE:ADM) Q3 2022 Results Conference Call October 25, 2022 9:00 AM ET

Company Participants

Megan Britt - VP, IR

Juan Luciano - Chairman and CEO

Vikram Luthar - CFO

Conference Call Participants

Ben Bienvenu - Stephens Inc.

Ben Theurer - Barclays

Tom Palmer - JP Morgan

Ken Zaslow - Bank of Montreal

Steven Haynes - Morgan Stanley

Rob Dickerson - Jefferies

Steve Byrne - Bank of America

Eric Larson - Seaport Research Partners

Robert Moskow - Credit Suisse

Adam Samuelson - Goldman Sachs

Operator

Good morning, and welcome to the ADM Third Quarter 2022 Earnings Conference Call. All lines have been placed on a listen-only mode to prevent background noise. As a reminder, this conference call is being recorded.

I would now like to introduce your host for today’s call, Megan Britt, Vice President, Investor Relations for ADM. Ms. Britt, you may begin.

Megan Britt

Thank you, Alex. Good morning, and welcome to ADM’s third quarter earnings webcast. Starting tomorrow, a replay of today’s webcast will be available at adm.com.

Please turn to slide 2, the Company’s safe harbor statement, which says that some of our comments and materials constitute forward-looking statement that reflects management’s current views and estimates of future economic circumstances, industry conditions, company performance and financial results. These statements and materials are based on many assumptions and factors that are subject to risks and uncertainties. ADM has provided additional information in its reports on file with the SEC concerning assumptions and factors that could cause actual results to differ materially from those in this presentation. To the extent permitted under applicable law, ADM assumes no to update any forward-looking statements as a result of new information or future events.

On today’s webcast, our Chairman and Chief Executive Officer, Juan Luciano, will provide an overview of the quarter and how we’re continuing to advance our strategy. Our Chief Financial Officer, Vikram Luthar, will review the drivers of our performance as well as corporate results and financial highlights. Then Juan will make some final comments, and he and Vikram will take your questions. Please turn to slide 3.

I’ll now turn the call over to Juan.

Juan Luciano

Thank you, Megan.

This morning, we reported a strong third quarter adjusted earnings per share of $1.86. Adjusted segment operating profit was $1.6 billion. Our trailing four-quarter adjusted EBITDA approached $6.6 billion, and our trailing four-quarter average adjusted ROIC was 13%.