ADM Faces SEC Probe and Stock Decline Amid Accounting Errors

Archer-Daniels-Midland is restating financial results due to misclassified transactions, prompting investor concern and a stock drop.

ADM has postponed its third-quarter earnings call after uncovering additional accounting errors across multiple business segments.
The company will amend its financial statements for 2023 and the first two quarters of 2024 following discussions with the SEC.
ADM's stock fell by about 6% after the announcement, reflecting investor unease over ongoing financial mismanagement.
Projected earnings per share for Q3 are significantly lower than expected, leading to a reduced full-year earnings outlook.
ADM's accounting issues have been linked to past acquisitions and have resulted in the departure of its previous CFO.