Top 100 Food and Beverage Company Highlights: #6 ADM
ADM’s second-quarter results highlighted earnings of $927 million, beating profit expectations. The company reported that its agriculture and oilseed results were strong but slightly lower than in the second quarter of 2022. Results for North America were slightly lower year-over-year, driven by lower export volumes due to large South American supplies.
It has been a year of innovation for ADM. In March ADM and food processing solutions provider Marel signed a JV agreement to build a taste and texture-focused alt-protein innovation centre in the Netherlands. Meanwhile, June saw the company open its new food innovation centre in the UK’s northern city of Manchester, designed to expand the company’s culinary capabilities into new savoury solutions.