ADM - Archer-Daniels-Midland: Solid Results But Accounting Probe Clouds The Picture
2024-03-13 12:20:55 ET
Summary
- Archer-Daniels-Midland released its delayed Q4 and full-year 2023 earnings, which do not look quite as bad as the market seemed to expect.
- Earnings and revenues both came in lower than expected and 2024 is going to be a tough year for the company.
- The accounting probe will likely continue to impact ADM's stock in the short and mid-term.
- ADM looks quite cheap, even considering decreased earnings per share in the 2024 outlook, and for long-term investors current levels could provide an attractive entry point.
Archer-Daniels-Midland ( ADM ) has been in the news for all the wrong reasons lately. The accounting probe is still hanging over the company like a storm cloud. This has already scared many investors and led to a share price drop of more than 20 percent year-to-date....
Archer-Daniels-Midland: Solid Results But Accounting Probe Clouds The Picture