On July 27th Archer-Daniels-Midland Company (ADM) reported on the second quarter of fiscal 2021 ending June 30th. For the period, the company earned $712 million on revenue of $22,926 million with an EPS of $1.26.  Comparative figures for Q2 of fiscal 2020 were net earnings of $469 million on revenue of $12,281 million with an EPS of $0.84.

The Animal Nutrition segment increased revenue by 13 percent and profit by 44 percent on a constant currency basis. This is attributed to improved demand and margins on amino acids, strength in feed additives and ingredients and better performance in the Europe, Middle East and Africa regions that offset the cost-impact of COVID.

In commenting on results, CEO and chairman Juan Luciano stated, “This is a very different ADM than even a few short years ago, and our transformation is far from over.”  He added, “Our unparalleled global footprint and strong risk management supported outstanding results in both Ag Services, Oilseeds and Carbohydrate Solutions.”

ADM has a market capitalization of $32.76 billon.  The company has traded over the past 52- weeks in a range of $42.03 to $69.30 with a 50-day moving average of $61.09.  ADM closed at $58.64 on Wednesday July 28th.  The company has posted a twelve-month trailing operating margin of 3.4 percent and a profit margin of 3.0 percent.  ADM has generated a twelve-month trailing return on assets of 2.9 percent and achieved a 10.4 percent return on equity.