Archer Daniels Midland Company (NYSE: ADM) continues to be troubled by the sluggishness across its Nutrition unit. This led to a year-over-year segment revenue dip of 0.9% in first-quarter 2024, following a year-over-year decline of 6.7% in the preceding quarter. Adjusted operating profit for the segment also fell by a significant 39% compared with the same period last year. Within this segment, human nutrition reported an operating profit of $76 million, down $62 million from the prior year due to unplanned downtime at Decatur East and market normalization in restaurants, thus impacting margins. Management anticipates reporting a decline in the nutrition segment from the year-ago levels for the second-quarter 2024, primarily due to challenges in specialty ingredients. However, it expects to witness another quarter of sequential improvement owing to progress in demand fulfillment. Shares of the Zacks Rank #3 (Hold) company have lost 1.5% in the past three months compared with the industry's decline of 9.6%. Image Source: Zacks Investment Research Do Strategic Initiatives Hold Potential? Archer Daniels has been making substantial strides in its three strategic pillars: optimize, drive and growth. It is focused on expanding the alternative protein production in Decatur, IL, and starch production in Marshall, MN. The company completed the expansion of its alternative protein facilities in ...