(Bloomberg) -- Archer-Daniels-Midland Co. has delayed the release of its financial statement for the third quarter as the company works to restate previous reports. The shares fell in after-hours trading.
The agriculture company won’t be able to file its so-called Form 10-Q for the period ended in September “within the prescribed time period without unreasonable effort and expense,” it said in a filing. The company also needs more time to complete amendments to the financial statements for full-year 2023 and the first two quarters of 2024, it said.
ADM shares slid as much as 1.9% in New York after regular-trading hours.
ADM said last week it found additional errors in how it reported transactions between some of its businesses, adding to a January scandal that has drawn investigations by US authorities and wiped out billions in market value. The company has been testing new internal controls as part of efforts to fix “material weakness” over financial reporting.
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