Archer Daniels Midland Co. on April 30 released first quarter financial results, reporting improved earnings for Vantage Corn Processors subsegment, which includes the company’s dry mill ethanol plants.&nbsp;ADM’s Carbohydrate Solutions segment, which houses its ethanol business, reported $248 million in segment operating profit during the first quarter, down 11% when compared to the same period of 2023. The company said its Starches &amp; Sweeteners subsegment decreased $52 million, or 17%, as strong starches and sweeteners margins were offset by lower domestic ethanol markets due to strong industry production and elevated stocks. The Vantage Corn Processing subsegment reported a $13 million loss, which was a $21 million, or 62%, improvement over the $34 million loss reported for the first quarter of last year. ADM said strong demand for sustainably certified exports of ethanol supported volumes and higher margins.&nbsp;Moving into the second quarter, ADM Interim Chief Financial Officer Ismael Roig said the company expects to see solid demand for ethanol, both domestically and in the export markets. ADM Chairman and CEO Juan Luciano indicated there remains uncertainty in the ethanol market, but said the company is cautiously optimistic that inventories will balance, providing a small lift to margins.&nbsp;Overall, ADM reported $1.311 billion in segment operating profit for the first quarter, down 24% when compared to the same period of last year. Earnings per share were $1.42, down 33%.&nbsp;&nbsp;

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Archer Daniels Midland Co. on April 30 released first quarter financial results, reporting improved earnings for Vantage Corn Processors subsegment, which includes the company’s dry mill ethanol plants. 

ADM reports improved Q1 earnings for dry mill ethanol plants

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