EarningsQ2 2026 Earnings Report
MX:ADM Q2 2026 EPS Results
Actual EPS$33.30
Consensus EPS$26.98
Beat/MissBeat by +$6.32
One Year Ago EPS$16.83
MX:ADM Q2 2026 Revenue Results
Actual Revenue$410.65B
Expected Revenue$411.64B
Beat/MissMissed by -$986.46M
YoY Revenue Growth+7.11%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:ADM Upcoming Earnings
Archer Daniels Midland's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ADM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: the company delivered a strong quarter with substantial YoY operating profit gains across AS&O and Carbohydrate Solutions, meaningful improvement in Nutrition operating profit, a raised full-year EPS guidance, strong cash generation and sustained balance-sheet strength. Management highlighted concrete growth initiatives (debottlenecking, natural colors TAM capture, precision fermentation pilots), sustainability progress and continued cost-savings execution. Key risks include revenue softness in parts of Nutrition, liquid sweetener weakness, mark-to-market/timing volatility, a decline in Wilmar earnings, geopolitical uncertainties and exposure to Q4 margin volatility given limited coverage. On balance, the operational and financial upside materially outweighs the noted risks and uncertainties.Company Guidance
Strong overall Q2 financial performance
Adjusted EPS of $1.84 for Q2 and total segment operating profit of $1.5 billion; trailing four-quarter adjusted ROIC at 7.8% and cash flow from operations before working capital changes of $1.8 billion for H1 2026.
Raised full-year guidance
Full-year 2026 adjusted EPS guidance increased to $5.15–$5.60 (from $4.15–$4.70), reflecting improved year-to-date performance and constructive outlook for crushing, ethanol margins and Nutrition.
AS&O segment surge
AS&O operating profit of $867 million, up 129% year-over-year; Ag Services operating profit $293 million (+159% YoY); Crushing operating profit $363 million (increase of approximately $330 million YoY); global oilseed processed volumes rose ~5% YoY.
Carbohydrate Solutions strength
Carbohydrate Solutions operating profit of $411 million, up 22% YoY; Starches & Sweeteners op profit $326 million (+7% YoY); Vantage Corn Processor op profit $85 million (up $52 million YoY).
Nutrition operating profit momentum
Nutrition operating profit $172 million, up 51% YoY; Human Nutrition op profit $139 million (+51% YoY) driven by Flavors; Animal Nutrition op profit $33 million (+50% YoY) aided by prior portfolio actions and JV formation.
Sustainability and decarbonization progress
Sequestered 337,000 metric tons of carbon this quarter (up from ~300,000 last quarter); advancing Broadwing and other decarbonization initiatives and ongoing carbon capture programs.
Disciplined capital allocation and balance sheet strength
H1 CapEx of $466 million with full-year CapEx guidance $1.3–$1.5 billion; net leverage 1.6x at June 30 (year-end target ~2x); distributed $256 million in dividends this quarter (378th consecutive quarterly dividend); evaluating opportunistic buybacks.
Operational efficiencies and cost-savings progress
Enterprise cost-savings program on track (target $500–$750 million over 3–5 years); finance shared services reduced AP cost-per-transaction by ~25% year-to-date; Global Technology consolidation underway to drive further savings.
MX:ADM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed