01—Abstract
Summary
Summary of the 8-K filed November 3, 2026. Cited figures are marked; the original filing is the authoritative source.
Archer-Daniels-Midland Company (ADM) reported its third quarter 2026 financial results, showcasing significant year-over-year improvements across its segments.
The company's adjusted Earnings Per Share (EPS) reached $1.77a, a substantial increase from the prior year. Driven by robust execution and a favorable biofuels environment, ADM has raised its full-year 2026 adjusted EPS guidance to a range of $5.50 to $5.80. The Ag Services & Oilseeds segment was a primary driver of this growth, with a 105% increase in operating profit, largely due to strong North American biofuels margins influenced by favorable policy and higher energy prices.
Carbohydrate Solutions also demonstrated solid performance with a 40%b increase in operating profit, supported by healthy ethanol margins. While the Nutrition segment saw modest growth, overall company performance indicates strong operational momentum and effective strategy execution in a constructive market environment. ADM also managed to reduce its projected capital expenditures for the year, focusing on high-return investments.
02—Key points
Key Highlights
- Third Quarter 2026 adjusted EPS reported at $1.77, a significant increase year-over-year.
- Full-year 2026 adjusted EPS guidance raised to approximately $5.50 - $5.80.
- Ag Services & Oilseeds segment operating profit surged 105% year-over-year, driven by favorable North American biofuels margins.
- Carbohydrate Solutions segment operating profit grew 40% year-over-year, boosted by strong ethanol margins and policy incentives.
- Capital expenditures projected for 2026 are now $1.2 - $1.3 billion, a reduction from the previous $1.3 - $1.5 billion range.
- All segments are expected to show year-over-year operating profit improvement in the fourth quarter.
- Net earnings of $821 million and adjusted net earnings of $858 million reported for the third quarter.
03—Questions
Frequently Asked Questions
What is the main reason for the significant increase in ADM's third-quarter results?
The substantial year-over-year improvement in ADM's third-quarter results was primarily driven by a constructive biofuels environment, particularly strong North American biofuels margins, coupled with the company's extensive North American footprint and effective execution by its team. Favorable policy (Renewable Volume Obligation - RVO) and higher global energy prices contributed significantly to the Ag Services & Oilseeds segment's performance.
How has ADM's full-year outlook changed?
ADM has raised its full-year 2026 adjusted EPS guidance. The new outlook projects adjusted EPS to be approximately $5.50 to $5.80, an increase from the previously guided range of $5.15 to $5.60. This revision reflects expected year-over-year operating profit improvements across all segments in the fourth quarter.
What segments contributed most to the improved performance?
The Ag Services & Oilseeds segment showed the most significant growth, with its operating profit increasing by 105% year-over-year, largely due to strong crushing and refined products margins in North America. The Carbohydrate Solutions segment also performed well, with a 40% increase in operating profit, supported by strong ethanol margins. While the Nutrition segment saw only a 3% increase, growth was positive.
Has ADM adjusted its capital expenditure plans?
Yes, ADM has revised its capital expenditure projections for 2026. The company now expects capital expenditures to be in the range of $1.2 to $1.3 billion, down from the prior projection of $1.3 to $1.5 billion. This adjustment reflects ADM's continued prioritization of high-return investments.
04—Continue