07:51 AM EDT, 03/12/2024 (MT Newswires) -- Archer-Daniels-Midland ( ADM ) reported Q4 adjusted earnings Tuesday of $1.36 per share, down from $1.93 a year earlier.

Analysts polled by Capital IQ expected $1.43.

Revenue for the quarter ended Dec. 31 was $22.98 billion, down from $25.94 billion a year earlier.

Analysts surveyed by Capital IQ expected $23.89 billion.

For the full-year 2024, the company said it expects adjusted EPS in the range of $5.25 to $6.25. Analysts polled by Capital IQ expect $5.87.

Additionally, the human and animal nutrition company said its board has authorized it to buyback an additional $2 billion of its shares under its current 200 million stock buyback plan that runs through this year.

Shares of the company were up 3.5% in recent Tuesday premarket activity.

Price: 56.85, Change: +1.94, Percent Change: +3.53