Archer-daniels-midland Stock Earnings Reports

Key points for investors: ADM reported Q1 FY2026 adjusted EPS of $0.71 and total segment operating profit of $764 million. Management raised full-year adjusted EPS guidance to $4.15–$4.70 (prior range $3.60–$4.25), driven by continued execution and a constructive margin environment in crushing and ethanol following EPA RVO clarity. Trailing four-quarter adjusted ROIC was 6.4% and cash flow from operations before working capital changes was $442 million. Carbohydrate Solutions benefited from materially stronger ethanol margins; Ag Services saw higher North American export activity (including increased shipments to China); Nutrition delivered +42% operating profit growth driven by flavors and recovery at Decatur East. Q1 included roughly $275 million of net negative mark-to-market and timing impacts (mostly in crushing), the majority of which management expects to reverse in Q2 as inventory/futures/fx positions unwind. CapEx is expected at $1.3–$1.5 billion for 2026; ADM returned $254 million in dividends (377th consecutive quarterly dividend). Net leverage was 2.2x at March 31, with year-end target ~2.0x. Management remains focused on cost reduction, digitization/AI, $500–$750 million of targeted cost savings over 3–5 years, selective growth investments across five strategic pathways (advanced nutrition, functional health, biosolutions, precision fermentation, decarbonization), and prudent capital allocation (dividend priority, bolt-on M&A, potential buybacks depending on cash flow). Management also expects a roughly $150 million contribution in 2026 from the 45Z tax incentive, and noted ongoing risks to monitor including energy costs, FX, global trade/tariffs, consumer trends and inverted curves that can affect cadence.