ADM lifts FY adjusted EPS profit outlook after Q3 beat

Archer-Daniels-Midland

03/11/2026 11:11

Overview
US agriculture supply chain manager's Q3 revenue rose 10%, slightly beating analysts' expectations
Adjusted EPS for Q3 increased 92%, beating analyst expectations
Company raised full-year 2026 adjusted EPS guidance

Outlook
ADM raises 2026 adjusted EPS guidance to $5.50-$5.80 from $5.15-$5.60
Company expects Q4 operating profit improvement in all segments year-over-year
ADM lowers 2026 capital expenditure forecast to $1.2-$1.3 bln from $1.3-$1.5 bln

Result Drivers
BIOFUELS ENVIRONMENT - ADM said strong North American biofuels margins and higher domestic demand drove results
RVO POLICY & ENERGY PRICES - ADM cited finalized Renewable Volume Obligation policy and higher global energy prices as supporting biofuels margins
ETHANOL MARGINS - Robust North American ethanol margins, policy incentives, and strong exports boosted Carbohydrate Solutions segment

Company press release: ID:nBwbz91SWa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$22.34 bln
$22.19 bln (5 Analysts)
Q3 Adjusted EPS
Beat
$1.77
$1.60 (8 Analysts)
Q3 EPS
 
$1.70
 
Q3 Adjusted Net Income
Beat
$858 mln
$779.73 mln (4 Analysts)
Q3 Net Income
 
$821 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "hold"
Wall Street's median 12-month price target for Archer-Daniels-Midland Co is $82.50, about 8.9% above its November 2 closing price of $75.77
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)