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ADM has posted revenue of $24.07 billion in its first-quarter results, beating Wall Street projections of $23.48 billion. The company reported that the results from its ag services and oilseeds segment were much higher than the year-ago first quarter, with an operating profit of $1.21 billion generated from this segment alone. Ag services and oilseeds' South America origination reported "higher export demand due to the record Brazilian soybean crop driving significantly higher year-over-year results". Meanwhile, North American origination was also higher, driven by stronger soybean exports. The company's carbohydrate solutions segment delivered “solid results” in Q1; however, they were much lower than the Q1 results from the prior year. ADM chairman and CEO Juan Luciano said: “ADM’s integrated value chain has helped each of our business segments to deliver strong earnings in the quarter. Our foundational businesses in ag services & oilseeds and carbohydrate solutions both continue to manage market volatility and deliver strong margins across the value chain.” He added that the company continues to “see healthy pipeline growth and win rates in human nutrition,” with results in line with the first quarter of 2022, as the business continued to manage demand fulfilment challenges and destocking in certain categories". Speciality ingredients results were higher in the year-over-year period, driven by healthy margins. Luciano continued: “With a strong balance sheet and healthy cash flows, ADM is poised to continue investing in profitable growth, and we are excited about our strategic plan for 2023 and beyond”.