Archer-Daniels-Midland (ADM, Financial), a Chicago-based crop trader, has announced plans to lay off 600 to 700 employees globally. This move is part of a strategy to save up to $750 million over the next three to five years, as the company anticipates a third consecutive year of declining profits.
ADM projects its adjusted earnings per share (EPS) for 2025 to range between $4 and $4.75. The midpoint of this range is below both the $4.74 per share expected for 2024 and the average analyst forecast of $4.66 per share.
For the three months ending in December, ADM reported an adjusted EPS of $1.14, marking a 16% year-over-year decrease. While this figure aligns with the average analyst expectations compiled by Bloomberg, it represents the company's lowest fourth-quarter performance since 2018.
In response to these developments, ADM's stock saw a 1.1% decline in pre-market trading in New York.
