Archer Daniels Midland Will Benefit From Shifting Global Crop Trade Patterns
Archer Daniels Midland had a rough start to the year as the carbohydrate solutions segment was affected by lower starch and sweetener sales. Combined with an operating loss in the animal nutrition business, total adjusted segment operating profit fell 15% year on year to $608 million in the first quarter. We lowered our near-term profit outlook, but this was offset by time value of money effects. We maintain our $46 fair value estimate for no-moat ADM.In the carbohydrate solutions segment, swee...
Archer Daniels Midland is a human and animal nutrition and an agricultural origination and processing company. The company has three segments: Ag Services and Oilseeds, which includes activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds into vegetable oils and protein meals; Carbohydrate Solutions, which is engaged in corn and wheat wet and dry milling and other activities; and Nutrition, which engages in the manufacturing, sale, and distribution of an array of products including plant-based proteins, natural flavor ingredients, and flavor systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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