Globally, the Chicago-based company posted $1.5 million (€1.43M) in profits in the trimester. In the same period of 2021, it reached $1.1 million (€1M).
The profits of the portfolio accounted for $48 million (€45.6M) in the first three months of 2022.
“Our first quarter financial results, including adjusted earnings per share of $1.90, reflect an extension and amplification of the factors that drove our 2021 performance: great execution by our team, including exceptional growth in nutrition,” said Chairman and CEO Juan Luciano.
The nutrition segment delivered “extremely strong revenue growth” of 23%, from $154 million (€146.43M) in 2021 to $189 million (€179.71M) in 2022.
Animal nutrition profits nearly doubled against last year. The company said that this was due primarily to strength in amino acids, which was driven by a combination of product mix changes, improved North American demand and global supply chain disruptions.
ADM, that recently announced the expansion of its production capacity in Mexico, expects to exceed this year the profits of $2.7 billion (€2.5B) achieved in 2021.
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