Archer-Daniels-Midland Company (NYSE:ADM) Q3 2023 Earnings Conference Call October 24, 2023 9:00 AM ET

Company Participants

Megan Britt - VP, IR

Juan Luciano - Chairman & CEO

Vikram Luthar - CFO

Conference Call Participants

Andrew Strelzik - BMO

Ben Theurer - Barclays

Tom Palmer - JPMorgan

Adam Samuelson - Goldman Sachs

Ben Bienvenu - Stephens

Salvator Tiano - Bank of America

Davis Sunderland - Baird

Steven Haynes - Morgan Stanley

Operator

Good morning, and welcome to the ADM Third Quarter 2023 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'd 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. Hello, and welcome to the third quarter earnings webcast for ADM. Starting tomorrow, a replay of this webcast will be available on our Investor Relations website.

Please turn to Slide 2. Some of our comments and materials may constitute forward-looking statements that reflect 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 obligation 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 discuss our third quarter results and share some recent accomplishments on our strategic priorities. Our Chief Financial Officer, Vikram Luthar will review segment level performance and provide an update on our cash generation and capital allocation actions. Juan will have some closing remarks, and then, 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 and good morning to all who have joined for today's call. Today, ADM reported third quarter adjusted earnings per share of $1.63 with an adjusted segment operating profit of $1.5 billion. Year-to-date, this equates to an adjusted earnings per share of $5.62, that will represent ADM's second best EPS year achieved in just the first nine months and an adjusted operating profit of $4.8 billion.