
Archer Daniels Midland (ADM) announced adjustments to its fourth-quarter earnings and revised its sales figures for the last three years following an internal probe into its accounting practices. The global grains merchant disclosed a $137 million impairment charge related to its animal nutrition unit and admitted to lower-than-expected fourth-quarter earnings. Amid the investigation, ADM employees received DOJ subpoenas. Despite these adjustments and the ongoing probe, the compensation packages for ADM executives, closely tied to the performance of the nutrition division, remain unaffected. The company's revised Q4 earnings show an adjusted EPS of $1.06, down from $1.42, with revenue at $22.98 billion, a slight decrease from $23.34 billion.
Archer Daniels Midland said it is under investigation by the Justice Department, adding to scrutiny over the agriculture company’s accounting practices https://t.co/TQxPg7j2VO https://t.co/TQxPg7j2VO
The compensation packages awarded to ADM executives that were closely tied to the performance of the nutrition division haven't been impacted by Tuesday's earnings adjustments, its CEO said. https://t.co/IG3Uf4Do7p
⚠️ COMMODITY GIANT LOUIS DREYFUS LAUNCHES ITS OWN JUICE BRAND Full Story → https://t.co/lsZ9R5lD0x Louis Dreyfus Company (LDC) has launched its own juice brand, starting in France, seeking to use its orange production in Brazil to tap into demand for fresh and traceable fruit… https://t.co/gHn5lGG93W
