(Bloomberg) -- Archer-Daniels-Midland Co. said it will amend previous financial statements after uncovering accounting issues, prompting the crop trader to cancel its quarterly earnings call with analysts 14 hours before it was due to start.

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ADM said Monday evening it had identified additional errors in the way it reported sales between the Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition business segments while testing new internal controls. After discussions with the Securities & Exchange Commission, ADM said it will amend financial statements for last year and the first and second quarters of 2024. It doesn’t expect any material impact from the revisions.

ADM shares fell as much as 10% in pre-market trading Tuesday.

The disclosure follows news in January that ADM was investigating inter-segment transactions. That revelation left the company in disarray, wiping more than $8 billion off its market value in just a single day, while also prompting the US Department of Justice and SEC to probe its accounting practices. ADM removed its chief financial officer, Vikram Luthar.

The developments also put a spotlight on Chief Executive Officer Juan Luciano’s push to lessen ADM’s dependence on its traditional business of trading corn and soybeans and refining ethanol. The Argentine-born industrial engineer spent billions of dollars over the past decade to acquire Wild Flavors GmbH and animal-feed maker Neovia — the company’s largest-ever deals — in a bid to turn ADM into a nutrition powerhouse.

Those bets failed to live up to expectations, due in part to faltering demand for plant-based ingredients and animal feed. The company has also faced a decline in crop prices around the globe and lower profits from processing soybeans into meal and oil — a key earnings driver — amid increased crushing capacity in the US. ADM closed its only soybean crushing facility in Iowa for maintenance during the current harvest of a record US crop, further eroding its ability to gain from processing.

ADM was expected to release its third-quarter financial statement on Tuesday before the start of trading. In the surprise preliminary report late Monday, the company said earnings excluding some items slumped 33% from a year ago to $1.09 per share. That missed even the lowest of analysts’ estimates compiled by Bloomberg.