Archer-Daniels-Midland Company (ADM) Q3 2026 Earnings
Adjusted EPS excludes $47 million after-tax ($0.09/share) of impairment, exit, restructuring charges and settlement contingencies, and a $(10) million ($(0.02)/share) discrete tax benefit; GAAP diluted EPS was $1.70. Other Business results included a one-time benefit from release of certain insurance reserves.
How Did ADM Stock React to Q3 2026 Earnings?
Did ADM Beat Earnings? Q3 2026 Results
Yes. Archer-Daniels-Midland Company reported Q3 2026 earnings of $1.77 a share on Nov 3, 2026, beating the $1.60 consensus estimate by 10.4%. Revenue was $22.3B against a $23.5B estimate.
Archer-Daniels-Midland delivered a mixed but ultimately encouraging third quarter of 2026, posting adjusted EPS of $1.77 against a consensus estimate of $1.60, a beat of 10.42% that extended the company's streak of topping analyst EPS expectations to five consecutive quarters. Revenue of $22.34 billion rose 9.6% year over year but fell short of the $23.49 billion consensus, a gap analysts attributed largely to commodity pricing dynamics rather than volume weakness. The clearest engine behind the earnings strength was a dramatically improved North American biofuels environment, with Ag Services and Oilseeds operating profit more than doubling and Carbohydrate Solutions advancing 40%, both fueled by robust domestic biofuel demand following the finalization of Renewable Volume Obligation policy in March 2026. GAAP diluted EPS came in at $1.70, with the adjusted figure excluding $47 million after-tax in impairment, restructuring and settlement charges, partly offset by a discrete tax benefit. Encouraged by the momentum, management raised its full-year 2026 adjusted EPS guidance to approximately $5.50 to $5.80 and trimmed capital expenditure projections to $1.20 to $1.30 billion, prioritizing high-return investments heading into the fourth quarter.
- Crushing operating profit rose $298 million YoY to $311 million on a constructive North American biofuels margin environment
- Higher domestic biofuel demand from the RVO policy finalized in March 2026, combined with higher global energy prices
- Global crush production volumes up 1.6% YoY and strong soybean meal demand
- Refined Products and Other operating profit up 82% on favorable North American biodiesel margins, including about $45 million of net positive mark-to-market and timing impacts
- Vantage Corn Processors operating profit up $103 million on robust North American ethanol margins, policy incentives, domestic demand and strong industry exports
- Starches and Sweeteners operating profit up 11% as strong ethanol margins offset liquid sweetener softness
- Animal Nutrition operating profit up 21% on operational improvements and 2025 portfolio actions
- Wilmar equity earnings up about 38% YoY
- Higher North American corn and soybean exports partially offset weaker Ag Services results
- Corporate results improved on non-recurrence of prior-year impairment losses; Other Business benefited from a one-time insurance reserve release
“ADM delivered strong third quarter results, with earnings up significantly from the prior year quarter and operating profit growth across all segments.”
Archer-Daniels-Midland Company CEO, on the earnings call
What Is Archer-Daniels-Midland Company's Outlook?
ADM now expects 2026 adjusted EPS of approximately $5.50 to $5.80, up from the prior range of $5.15 to $5.60. The updated outlook reflects expected year-over-year operating profit improvement in all segments in the fourth quarter. Capital expenditures are now projected at $1.2 to $1.3 billion, revised from $1.3 to $1.5 billion, reflecting continued prioritization of high-return investments. The company continues to monitor external factors across the macroeconomic, geopolitical, policy and trade environments.
ADM YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $22.3B | $20.4B | +9.6% |
| Gross Profit | $1.9B | $1.3B | +48.5% |
| Net Income | $821.0M | $108.0M | +660.2% |
ADM Revenue by Segment
When Does Archer-Daniels-Midland Company Report Next?
Figures from SEC filings and company reports. Not investment advice.