What factors drove ADM's 2024 earnings surprises?

Archer-Daniels-Midland (ADM) experienced a net income of $561 million in 2024Q4, with an EPS surprise of -0.06. The company's 2024 earnings surprises can be attributed to a combination of factors:

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|ADM|ADM.N|Archer-Daniels-Midland|2024 Q1|7.19E8|169|
|ADM|ADM.N|Archer-Daniels-Midland|2024 Q2|4.81E8|169|
|ADM|ADM.N|Archer-Daniels-Midland|2024 Q3|1.8E7|169|
|ADM|ADM.N|Archer-Daniels-Midland|2024 Q4|5.61E8|169|

1. **Market Volatility and Strategic Alliances**: Despite market volatility due to the announcement of new tariffs on automobile imports, ADM's agricultural focus may have insulated the company from broader market fluctuations. The company's strategic alliance with Mitsubishi Corporation to strengthen its agriculture value chain has not significantly impacted investor sentiment.
2. **Cost Actions and Operational Improvements**: ADM has been focusing on operational improvements across its North American soy operations and globally, aiming to deliver between $500 million and $750 million in cost actions in the coming years. These improvements aim to bolster net margins despite regulatory uncertainties and global competition.

In conclusion, ADM's 2024 earnings surprises were likely driven by a combination of factors including market volatility, strategic alliances, cost actions, and operational improvements. These factors have likely impacted the company's financial performance, leading to the reported net income and EPS surprise.