ADM, Bunge expected to post strong results as Ukraine war ignites demand

By Reuters

A string of strong quarterly profits by global agribusinesses Archer-Daniels-Midland Co and Bunge Ltd likely continued in the first quarter despite surging crop costs and global supply chain disruptions triggered by Russia's invasion of Ukraine, analysts said ahead of earnings releases this week. ADM, which reports results ahead of the market open on Tuesday, is expected to post first-quarter earnings of $1.41 per share, according to a consensus estimate from Refinitiv IBES, about in line with $1.39 a share in the same quarter a year earlier. The expected robust earnings in the three months ended March 31 would add to recent strong results for the companies that stemmed from rising demand for food and biofuels and shifts in trade flows during the COVID-19 pandemic.

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