ADM CEO says no 'significant' coronavirus business impact for now

Jan 31, 2020 at 09:04 AM CST
By P.J. Huffstutter CHICAGO, Jan 30 (Reuters) - The coronavirus that is quickly spreading across China and beyond is not expected to have a significant business impact on global grain trader Archer Daniels Midland at this point, Chief Executive Officer Juan Luciano said on Thursday. The company, which operates in China, however, could be impacted if the coronavirus outbreak impacts the global gross domestic product, Luciano said during a post-earnings conference call with analysts. "We are in a very fundamental business, which is the business of food," Luciano told analysts. "So I think that we will be impacted to the extent that GDP, the global GDP will be impacted - and that will depend on the magnitude" of the outbreak. Luciano said that consumer dining and entertainment habits will likely shift, where people will stay at home instead of going outside.

Jan 31, 2020 at 09:04 AM CST

By P.J. Huffstutter CHICAGO, Jan 30 (Reuters) - The coronavirus that is quickly spreading across China and beyond is not expected to have a significant business impact on global grain trader Archer Daniels Midland at this point, Chief Executive Officer Juan Luciano said on Thursday. The company, which operates in China, however, could be impacted if the coronavirus outbreak impacts the global gross domestic product, Luciano said during a post-earnings conference call with analysts. "We are in a very fundamental business, which is the business of food," Luciano told analysts. "So I think that we will be impacted to the extent that GDP, the global GDP will be impacted - and that will depend on the magnitude" of the outbreak. Luciano said that consumer dining and entertainment habits will likely shift, where people will stay at home instead of going outside.