Archer-Daniels-Midland (New York Stock Exchange:ADM) is scheduled to report fourth-quarter results before the market opens on Tuesday.
wall street I'm looking forward to it The Chicago-based company's EPS is expected to be $1.43, representing a 25.9% decline, and revenue is expected to decline 8.9% to $23.89 billion.
In January, ADM placed Chief Financial Officer Vikram Luthor on administrative leave as it investigated certain accounting practices in its nutrition division. The company withdrew its guidance to the nutrition department, It was also trimmed Earnings forecast for fiscal year 2023.
The company's stock has fallen more than 20% since the beginning of the year.
Securities firm Citigroup said the company faces challenges to improving profitability and an accounting review has clouded its financial picture.
Recent Seeking Alpha analysis It pointed out ADM said it faces short-term headwinds despite „strong long-term drivers, including steady growth in end markets and inorganic expansion opportunities.“
In early October, company top That's despite street forecasts for quarterly profit showing a 12% drop in sales.
For the past two years, ADM has Exceeded EPS forecast It beat revenue estimates 100% of the time and beat revenue 63% of the time.
Recruiting Alpha Analysts I'm bullish Seeking Alpha's Quantitative Ratings and Wall Street analysts rate the stock as a „buy“ while rating it a „hold.“ The stock price has fallen more than 30% in the past year.
Over the past three months, the EPS estimate was zero. upward revision, compared to nine downward revisions. Earnings forecasts were revised downward three times, but there were no upward revisions.