Archer Daniels Midland Company
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +7.22%.
Did ADM Beat Earnings? Q1 2025 Results
Archer-Daniels-Midland delivered a mixed first quarter for 2025, squeezing out a narrow earnings beat against a backdrop of sharply declining revenue and the company's worst profit performance since early 2020. Adjusted EPS came in at $0.70, edging past the $0.67 consensus estimate by 4.46%, but revenue fell to $20.18 billion, missing expectations of $22.05 billion by 8.50% and sliding 7.7% from a year earlier. The most severe damage originated in the Ag Services and Oilseeds segment, where Crushing profits collapsed 85% as swelling global industry capacity, competitive Argentine meal exports, and softening vegetable oil demand gutted margins simultaneously. Nutrition offered a rare bright spot, with operating profit climbing 13% to $95.00 million on stronger flavors demand and a dramatic Animal Nutrition turnaround, signaling that the segment's recovery from prior accounting-related disruptions is gaining traction. ADM reaffirmed its full-year 2025 adjusted EPS guidance of $4.00 to $4.75, though management now expects results to land at the lower end, citing persistent trade policy uncertainty and biofuel headwinds.
- Crushing subsegment operating profit down 85% due to increased industry capacity, competitive Argentine meal exports, higher manufacturing costs, and lower vegetable oil demand from biofuel and trade policy uncertainty
- Ag Services operating profit down 31% driven by decreased volumes and margins from tariff and trade policy uncertainty and negative mark-to-market timing impacts
- Animal Nutrition operating profit up 150% on improved market conditions and cost optimization
- Vantage Corn Processors swung to profit on higher ethanol volumes and improved margins
- Nutrition segment up 13% driven by Flavors volume and margin improvements in North America and EMEA
- Wilmar equity earnings approximately 52% lower versus prior year quarter
“ADM delivered results aligned with our outlook and the market expectations for the first quarter. In a challenging and uncertain external environment, we advanced multiple aspects of our self-help agenda, including delivering operational improvements in North America, driving cost savings through targeted operational and organizational realignments, advancing our pipeline of portfolio simplification opportunities, and continuing our disciplined approach to capital allocation.”
Archer-Daniels-Midland CEO, on the earnings call
Forward Guidance & Outlook
ADM affirms its previously provided full-year 2025 adjusted EPS guidance range of $4.00 to $4.75, but now expects to deliver at the lower end of that range given current market conditions. The company expects focused execution of its self-help agenda and execution agility to be foundational to navigating market uncertainty.
ADM YoY Financials
ADM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.