ADM Q2 results beat; raises 2026 adjusted EPS outlook

Archer-Daniels-Midland

04/08/2026 11:22

Overview
U.S. ag supply chain manager's Q2 revenue and adjusted EPS beat analyst expectations
Company raised full-year 2026 adjusted EPS guidance on strong execution and biofuels environment
Segment operating profit rose 75% yr/yr, led by Ag Services & Oilseeds

Outlook
ADM raises 2026 adjusted EPS outlook to $5.15-$5.60 from $4.15-$4.70
Company expects continued earnings improvement in crushing and ethanol businesses on strong margins
ADM continues to project 2026 capital expenditures of $1.3 bln to $1.5 bln

Result Drivers
BIOFUELS ENVIRONMENT - ADM said finalized RVO and elevated global energy prices supported margin expansion in Ag Services and North American crushing
ETHANOL MARGINS - Robust North American ethanol margins, policy incentives, and favorable exports drove Carbohydrate Solutions segment profit
NUTRITION MOMENTUM - Improved performance in Human and Animal Nutrition, led by Flavors growth and operational improvements

Company press release: ID:nBwbNYJkKa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$22.68 bln
$21.79 bln (5 Analysts)
Q2 Adjusted EPS
Beat
$1.84
$1.44 (8 Analysts)
Q2 EPS
 
$1.87
 
Q2 Adjusted Net Income
Beat
$895 mln
$608.41 mln (5 Analysts)
Q2 Net Income
 
$908 mln
 

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 2 "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy."
Wall Street's median 12-month price target for Archer-Daniels-Midland Co is $77.00, about 1.4% below its August 3 closing price of $78.06
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago

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.)