BUZZ-Grain trader ADM falls on Q4 profit miss

Updates

Grain trader ADM's shares ADM.N fall 3.4% to $48.37 in early morning trade

Company reported Q4 adj. EPS of $1.14/share vs est of $1.15/share - data compiled by LSEG

ADM raises dividend by 1 cent per share; says targeting cutting between $500 mln and $750 mln in spending over the next 3 to 5 years

Company says it is looking to lay off 600-700 people in 2025; it had 41,802 employees, according to its 2023 annual report

Expects adj. EPS for 2025 in the range of $4/share to $4.75/share, midpoint of which is below analysts' expectations of $4.67/share - LSEG

ADM down ~9.5% YTD