UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 2019
ARCHER-DANIELS-MIDLAND COMPANY
(Exact name of registrant as specified in its charter)
Delaware | 1-44 | 41-0129150 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) | ||
77 West Wacker Drive, Suite 4600 Chicago, Illinois |
60601 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (312) 634-8100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b 2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 | Regulation FD Disclosure. |
On March 25, 2019, Archer-Daniels-Midland Company released a statement on its website regarding the impact of extreme winter weather in the first quarter on North American operations.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Statement on First Quarter Weather Impacts, dated March 25, 2019 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ARCHER-DANIELS-MIDLAND COMPANY | ||||||
Date: March 25, 2019 | By | /s/ D. Cameron Findlay | ||||
Name: D. Cameron Findlay | ||||||
Title: Senior Vice President, General Counsel and Secretary |
Exhibit 99.1
ADM Statement on First Quarter Weather Impacts
CHICAGO, March 25, 2019Archer Daniels Midland Company (NYSE: ADM) released the following statement today:
Extreme winter weather has affected our first quarter North American operations beyond what we would experience in a typical winter.
In March, powerful snow and rain storms early in the month and resulting flooding and its after-effects are affecting both Carbohydrates Solutions and Origination operations. Rail transportation has been disrupted throughout the region; our corn processing complex in Columbus, Nebraska, was idled due to flooding and currently is running at reduced rates; and unfavorable river conditions since December are severely limiting barge transportation movements and port activities.
Earlier in the quarter, severe cold temperatures and snowstorms affected some of our Carbohydrate Solutions processing facilities in the Midwest. The extreme weather reduced corn processing volumes principally due to a slowdown in rail and truck transportation, which affected both inbound and outbound shipments.
We continue to assess the situation, and utilize our transportation and operating network as much as possible to meet customer needs. Taken together, we expect these severe weather disruptions to have a negative pre-tax operating profit impact to ADM of $50 million to $60 million for the first quarter. That impact will be roughly equal between Carbohydrate Solutions and Origination, with some minor impacts to our other segments. We will have a further update on our first quarter 2019 earnings call, with an assessment of full year impacts, including recoveries and offsets.
This is a difficult time for many communities in which we operate. Last week, we announced a $100,000 donation to the American Red Cross to provide disaster relief in areas affected by the recent flooding. The safety and well-being of the people in the affected areas is always our top priority, and we will continue to work directly as well as through third parties to assist people and communities that have been affected by severe weather.
Forward-Looking Statements
Some of the above statements constitute forward-looking statements. ADMs filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About ADM
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. At the end of 2018, we were one of the worlds largest agricultural processors and food ingredient providers, with
approximately 32,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 450 crop procurement locations, 270 food and feed ingredient manufacturing facilities, 46 innovation centers and the worlds premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson
media@adm.com
312-634-8484
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