ADM to Release Second Quarter Financial Results on Aug. 5, 2025
To listen to the webcast or to download the slide presentation, go to www.adm.com/webcast. A replay of the webcast will also be available for an extended period of time at www.adm.com/webcast.
About ADM
ADM unlocks the power of nature to enrich the quality of life. We're an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We're a premier human and animal nutrition provider, offering one of the industry's broadest portfolios of ingredients and solutions from nature. We're a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We're a cutting-edge innovator, guiding the way to a future of new bio-based consumer and industrial solutions. And we're leading in business-driven sustainability efforts that support a strong agricultural sector, resilient supply chains, and a vast and growing bioeconomy. Around the globe, our expertise and innovation are meeting critical needs from harvest to home. Learn more at www.adm.com.
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Montreal Gazette
7 minutes ago
- Montreal Gazette
Aéroports de Montréal's handling of environmental-impact consultation is ‘scandalous,' activist says
By When Aéroports de Montréal announced last week that it had secured a $1-billion loan from the Canada Infrastructure Bank to finance its $10-billion expansion of Montreal—Pierre Elliott Trudeau International Airport, it didn't mention that deadlines are looming for the public to provide their input on the environmental impact of its development plan. The deadline is in fact this Sunday, July 27, for the public to submit written comments on a major component of the airport authority's plan: the construction of a new, permanent satellite jetty housing 16 boarding gates that will accommodate up to 28 aircraft. The notice of consultation was posted on June 27 — not on the ADM website, but on the website of the federal Impact Assessment Agency of Canada (IAAC). The notice reveals that ADM also plans to build a temporary satellite jetty with four adaptable boarding gates that can accommodate up to eight aircraft, which ADM plans to have in operation by December 2026. The ADM notice concerning the new temporary and permanent jetties states: 'ADM Aéroports de Montréal intends to make a determination regarding whether the carrying out of the project is likely to cause significant adverse environmental effects. To help inform this determination, ADM Aéroports de Montréal is inviting public comments until July 27, 2025 respecting that determination.' 'It's absolutely scandalous,' Pierre Lachapelle, president of Les Pollués de Montréal-Trudeau, said of discovering the notice by accident this week. Les Pollués, which opposes the airport's expansion in its urban setting, has a class-action lawsuit pending against ADM and federal agencies over airplane noise generated by activities at the airport. The group checked the IAAC website following a tip and found the notice and other notices of consultations on other components of the ADM overhaul of Trudeau airport, Lachapelle said. Under the federal Impact Assessment Act, an environmental impact assessment is required for projects within federal jurisdiction through the IAAC. However, the law confers legal responsibility on airport authorities across the country to assess the impact of their projects on federal lands. 'It's the developer, ADM, who is collecting public comments, not the IAAC,' Lachapelle said, noting that the notices call for the public to submit written comments to the ADM. 'I'm outraged. This is something that could discourage people from commenting.' The one-month deadline is 'adding insult to injury,' he added. 'We'll send comments, for sure,' he said of responding by July 27. 'We won't be silent.' However, the ADM says the 'community relations' page of its website informs the public about the environmental impact consultations and says it publicly unveiled its $10-billion program in April. Under the heading 'On-going consultations,' the ADM web page explains that 'projects covered by the Impact Assessment Act are posted on the Impact Assessment Agency of Canada (IAAC) website.' The ADM web page also provides a link to the IAAC web page listing all ADM consultation notices. 'Any citizen interested in participating in the ongoing consultations has access to the information related to the consultation process via the ADM's website through its 'community relations' web page, and the projects are posted on the Canadian Impact Assessment Registry, in accordance with the provisions of the Impact Assessment Act,' the ADM said through spokesperson Eric Forest. Lachapelle said Quebec's Bureau d'audiences publiques sur l'environnement (BAPE), which holds independent environmental impact assessments on provincial projects, allows time for public information sessions and time for reflection before the public has to submit briefs. The IAAC notice about the jetties reveals new information, Lachapelle added. For example, ADM has said in the past that the new jetty could have 10 gates, he said. And the temporary jetty is new, he said. The notice says the permanent jetty will have 12 adaptable boarding gates for up to 24 aircraft and four regular boarding gates for four aircraft. As well, a pedestrian tunnel would connect the jetty and the existing international jetty. The adaptable boarding gates are called 'multiple aircraft ramp system' (MARS) gates, which accommodate multiple planes. 'The objective is to enhance passenger experience at YUL (Trudeau airport), as this addition will reduce the need to operate through remote parking of aircraft and the use of shuttles,' Forest said. The temporary jetty will alleviate urgent needs, he said. The number and type of boarding gates is still being refined, he added. 'The information outlined in the consultation represents the maximum scope of the project.' A separate notice posted on the IAAC website on Tuesday announces a consultation on the ADM's plan to replace the multi-level parking garage at Trudeau airport and develop additional passenger drop-off areas. The deadline for public feedback is Aug. 21. The project entails demolishing the multi-level parking garage and building new multi-level parking connected to the future airport REM station and the airport terminal. It also calls for installing a retention basin under the new parking structure for storm water and pedestrian overpasses to connect the drop-off areas, parking facility, REM station and the terminal. 'ADM complies with and communicates its projects in accordance with the provisions of the Impact Assessment Act and through the Canadian Impact Assessment Registry,' Forest said. He said the projects in the ADM's multi-year plan are being carried out 'in an appropriate sequence so as to not interfere with airport activities and operations.' 'The consultation notices for the construction projects related to the (plan) are therefore posted progressively in accordance with the planned sequence' and project deadlines, Forest said. However, Lachapelle contends the impact of the sum of the projects is being ignored. 'There's plenty more related to the expansion of Trudeau airport, and it's being treated one by one,' he said. 'It's inconceivable and unacceptable in 2025.'
Globe and Mail
7 minutes ago
- Globe and Mail
Raymond James Financial Reports Fiscal Third Quarter of 2025 Results
ST. PETERSBURG, Fla., July 23, 2025 (GLOBE NEWSWIRE) -- Record net revenues of $10.34 billion and record pre-tax income of $1.98 billion for the first nine months of fiscal 2025, up 10% and 5%, respectively, over the first nine months of fiscal 2024 Record client assets under administration of $1.64 trillion and record Private Client Group assets in fee-based accounts of $943.9 billion, up 11% and 15%, respectively, over June 2024 Quarterly net revenues of $3.40 billion, up 5% over the prior year's fiscal third quarter and flat compared to the preceding quarter Annualized return on common equity of 17.1% and annualized adjusted return on tangible common equity of 20.5%(1) for the first nine months of fiscal 2025 Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of $3.40 billion and net income available to common shareholders of $435 million, or $2.12 per diluted share, for the fiscal third quarter ended June 30, 2025. Excluding $19 million of expenses related to acquisitions, quarterly adjusted net income available to common shareholders was $449 million(1), or $2.18 per diluted share(1). The results for the period included a $58 million reserve increase associated with the settlement of a legal matter related to bond underwritings for a specific issuer, sold to institutional investors between 2013 to 2015. Although the firm maintains it had strong defenses and denied any liability, given the complexity of the case and the unpredictability of litigation outcomes, it determined to resolve the long-running dispute without admission of wrongdoing. 'This quarter we celebrate the firm's 150 th consecutive quarter of profitability, highlighting the strength of our diverse and complementary businesses and our ongoing commitment to always putting clients first,' said CEO Paul Shoukry. 'We are encouraged by the significant growth in our financial advisor recruiting pipeline, as more advisors continue to recognize our unique culture, comprehensive capabilities, strong balance sheet, and our steadfast commitment to maintaining independence. Our investment banking pipeline remains strong, and we are growing increasingly optimistic about macroeconomic conditions although the environment remains uncertain. Looking ahead, we enter the fiscal fourth quarter well positioned, supported by record client assets and significant capital to drive further business growth.' Quarterly net revenues increased 5% over the prior year's fiscal third quarter and approximated the preceding quarter level, with continued growth in asset management and related administrative fees which increased to $1.73 billion. Primarily the result of the impact of the aforementioned legal reserve, net income available to common shareholders decreased. For the fiscal third quarter, annualized return on common equity and annualized adjusted return on tangible common equity were 14.3% and 17.2%(1), respectively. For the first nine months of the fiscal year, record net revenues of $10.34 billion increased 10%, record earnings per diluted share of $7.35 increased 7%, and record adjusted earnings per diluted share of $7.55(1) increased 6% over the first nine months of fiscal 2024. The Private Client Group segment net revenues and the Asset Management segment net revenues and pre-tax income were record results during the first nine months of fiscal 2025. Annualized return on common equity was 17.1% and annualized adjusted return on tangible common equity was 20.5%(1). Segment Results Private Client Group Quarterly net revenues of $2.49 billion, up 3% over the prior year's fiscal third quarter and slightly higher compared to the preceding quarter Quarterly pre-tax income of $411 million, down 7% compared to the prior year's fiscal third quarter and 5% compared to the preceding quarter Record Private Client Group assets under administration of $1.57 trillion, up 11% over June 2024 and 7% over March 2025 Record Private Client Group assets in fee-based accounts of $943.9 billion, up 15% over June 2024 and 8% over March 2025 Domestic Private Client Group net new assets(2) of $11.7 billion for the fiscal third quarter, or annualized growth from beginning of period assets of 3.4%; Fiscal year-to-date, domestic Private Client Group net new assets of $34.5 billion or 3.3% annualized Total clients' domestic cash sweep and ESP balances of $55.2 billion, down 2% compared to the prior year's fiscal third quarter and 4% compared to the preceding quarter Quarterly net revenues rose 3% year-over-year mainly driven by higher asset management and related administrative fees which were partially offset by the impacts of lower short-term interest rates. During the same period, PCG assets in fee-based accounts grew by 15%, primarily due to market appreciation and net asset inflows. This contributed to a 7% rise in asset management and related administrative fees, reaching $1.46 billion. Pre-tax income declined year-over-year primarily due to the impact of lower interest rates. Capital Markets Quarterly net revenues of $381 million, up 15% over the prior year's fiscal third quarter and down 4% compared to the preceding quarter Quarterly investment banking revenues of $203 million, up 17% over the prior year's fiscal third quarter and down 2% compared to the preceding quarter Quarterly pre-tax loss of $54 million reflects the impact of the aforementioned $58 million legal reserve in the quarter Quarterly net revenues increased 15% over the prior year period, driven mainly by higher investment banking, fixed income brokerage and equity brokerage revenues. Sequentially, quarterly net revenues decreased 4% largely due to lower M&A revenues and fixed income brokerage revenues partially offset by higher underwriting and affordable housing investments business revenues. The quarterly pre-tax loss was largely due to the impact of the aforementioned legal reserve. The investment banking pipeline remains strong and while we are increasingly optimistic regarding macroeconomic conditions, the current environment remains uncertain. Asset Management Quarterly net revenues of $291 million, up 10% over the prior year's fiscal third quarter and 1% over the preceding quarter Record quarterly pre-tax income of $125 million, up 12% over the prior year's fiscal third quarter and 3% over the preceding quarter Record financial assets under management of $263.2 billion, up 15% over June 2024 and 7% over March 2025 The increase in quarterly net revenues and pre-tax income over both the prior-year and sequential quarter is largely attributable to higher financial assets under management due to market appreciation and net inflows into fee-based accounts in the Private Client Group. Bank Quarterly net revenues of $458 million, up 10% over the prior year's fiscal third quarter and 6% over the preceding quarter Quarterly pre-tax income of $123 million, up 7% over the prior year's fiscal third quarter and 5% over the preceding quarter Record net loans of $49.8 billion, up 10% over June 2024 and 3% over March 2025 Bank segment net interest margin ('NIM') of 2.74% for the quarter, up 10 basis points over the prior year's fiscal third quarter and 7 basis points over the preceding quarter Net loans increased by 3% over the preceding quarter, primarily due to ongoing growth in securities-based lending, which rose by 5% in the quarter. Bank segment NIM improved by 7 basis points to 2.74%, attributable mainly to a favorable shift in asset mix and a higher proportion of lower cost deposits. These factors contributed to a 6% sequential increase in quarterly net revenues. The credit quality of the loan portfolio remains strong. Other The effective tax rate for the quarter was 22.6%, reflecting the favorable impact of nontaxable corporate-owned life insurance gains in the quarter. During the fiscal third quarter, the firm repurchased common stock of $451 million at an average price of $137 per share. As of June 30, 2025, $749 million remained available under the Board's approved common stock repurchase authorization. At the end of the quarter, the total capital ratio was 24.3%(3) and the tier 1 leverage ratio was 13.1%(3), both well above regulatory requirements. A conference call to discuss the results will take place today, Wednesday, July 23, at 5:00 p.m. ET. The live audio webcast, and the presentation which management will review on the call, will be available at An audio replay of the call will be available at the same location until October 22, 2025. For a listen-only connection to the conference call, please dial: 888-596-4144 (conference code: 3778589). About Raymond James Financial, Inc. Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.64 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at Forward-Looking Statements Certain statements made in this press release may constitute 'forward-looking statements' under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions (including changes in interest rates and inflation), demand for and pricing of our products (including cash sweep and deposit offerings), anticipated timing and benefits of our acquisitions, and our level of success integrating acquired businesses, anticipated results of litigation, regulatory developments, and general economic conditions. In addition, future or conditional verbs such as 'will,' 'may,' 'could,' 'should,' and 'would,' as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the 'SEC') from time to time, including our most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available at and the SEC's website at We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.
Globe and Mail
7 minutes ago
- Globe and Mail
Gerald Johnson elected to Eaton's Board of Directors
Intelligent power management company Eaton (NYSE:ETN) today announced that Gerald Johnson has been elected to the company's Board of Directors effective July 23, 2025. This press release features multimedia. View the full release here: Johnson is the retired executive vice president, Global Manufacturing and Sustainability, of General Motors, where he led the company's global manufacturing operations, labor relations and sustainable workplace practices. Over the course of his career, spanning more than 40 years at GM, he oversaw safety, quality and productivity, and held several roles of increasing responsibility, including vice president, Manufacturing and Labor Relations, North America, and vice president, Global Operational Excellence. He currently serves on the board of Caterpillar Inc. 'With his extensive experience in global manufacturing, engineering and operations, Gerald is a valuable addition to our Board,' said Paulo Ruiz, Eaton chief executive officer. 'As we continue our strategy to execute for growth at Eaton, I'm confident that Gerald's breadth of experience and proven performance in operations excellence, along with his strong customer focus, will serve our company well.' Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we're helping to solve the world's most urgent power management challenges and building a more sustainable society for people today and generations to come. Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit Follow us on LinkedIn.
