Archer Daniels Midland Company
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.24%.
Did ADM Beat Earnings? Q2 2026 Results
Archer-Daniels-Midland delivered a standout second quarter in 2026, with adjusted earnings per share of $1.84 nearly doubling from $0.93 a year earlier and revenue climbing 7.0% to $22.68 billion, extending the agricultural giant's streak of consensus EPS beats to five consecutive quarters. The quarter's most powerful driver was a resurgent Ag Services and Oilseeds segment, where operating profit jumped 129% year-over-year to $867.00 million, fueled by a favorable biofuels environment following the finalization of 2026 and 2027 renewable volume obligations under the U.S. Renewable Fuel Standard, elevated global energy prices, and approximately $100.00 million in net positive mark-to-market impacts. Carbohydrate Solutions and Nutrition each added momentum, with the latter posting a 51% gain in operating profit as Flavors growth and operational improvements took hold. Encouraged by the constructive margin backdrop, ADM raised its full-year 2026 adjusted EPS guidance to a range of $5.15 to $5.60, up meaningfully from the prior range of $4.15 to $4.70, though management noted ongoing vigilance around macroeconomic and trade uncertainties.
- Finalized 2026 and 2027 renewable volume obligations (RVO) under the U.S. Renewable Fuel Standard supporting biofuels margins
- Elevated global energy prices supporting crushing and ethanol margin expansion
- Strong commercial and operational execution across all three segments
- Approximately $100 million net positive mark-to-market and timing impacts in AS&O, primarily in Crushing
- Global oilseed volumes increased approximately 5% YoY due to improved asset utilization
- Robust North American ethanol margins as ethanol gained economic advantage over competing blendstocks
- Flavors growth and Decatur East plant progress driving Human Nutrition improvement
- Operational improvements and 2025 portfolio actions benefiting Animal Nutrition
- Barcarena, Brazil grain export terminal returning to full operations
- Record meal exports from Brazil and the U.S. supported by stable soybean meal prices
“ADM delivered robust second-quarter financial and operating results. Segment operating profit rose significantly year-over-year and sequentially, with broad-based growth across all three segments—driven by strong commercial and operational execution by the team, a constructive biofuels environment, and momentum in Nutrition, led by Flavors. These results, and the expectations we have into the back half of this year, give us confidence to again raise our 2026 earnings outlook.”
Archer-Daniels-Midland CEO, on the earnings call
Forward Guidance & Outlook
ADM raised its full-year 2026 adjusted EPS guidance to approximately $5.15 to $5.60, up from the prior range of $4.15 to $4.70. The updated outlook reflects expected year-over-year earnings improvement in crushing and ethanol businesses, driven by the constructive margin environment stemming from finalized 2026 and 2027 renewable volume obligations under the U.S. Renewable Fuel Standard, supported by global trade dynamics and elevated energy prices. Nutrition performance continues to improve. Capital expenditures remain projected at $1.3 billion to $1.5 billion. The company continues to monitor external factors across macroeconomic, geopolitical, policy, and trade environments.
ADM YoY Financials
ADM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.