Earnings summaries and quarterly performance for Archer-Daniels-Midland.
Executive leadership at Archer-Daniels-Midland.
Juan Luciano
Detailed
Chief Executive Officer and President
CEO
CC
Christopher Cuddy
Detailed
Senior Vice President and President, Carbohydrate Solutions
GM
Greg Morris
Detailed
Senior Vice President and President, Agricultural Services and Oilseeds
IP
Ian Pinner
Detailed
Senior Vice President and President, Nutrition, and Chief Sales and Marketing Officer
MP
Monish Patolawala
Detailed
Executive Vice President and Chief Financial Officer
RJ
Regina Jones
Detailed
Senior Vice President, General Counsel, and Secretary
Board of directors at Archer-Daniels-Midland.
DM
David McAtee
Detailed
Director
DS
Debra Sandler
Detailed
Director
Ed
Ellen de Brabander
Detailed
Director
JC
James Collins
Detailed
Director
KW
Kelvin Westbrook
Detailed
Director
LS
Lei Schlitz
Detailed
Director
MB
Michael Burke
Detailed
Director
PM
Patrick Moore
Detailed
Director
SH
Suzan Harrison
Detailed
Director
TC
Terrell Crews
Detailed
Lead Independent Director
TC
Theodore Colbert
Detailed
Director
Research analysts who have asked questions during Archer-Daniels-Midland earnings calls.
Andrew Strelzik
BMO Capital Markets
9 questions for ADM
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Manav Gupta
UBS Group
9 questions for ADM
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SH
Steven Haynes
Morgan Stanley
9 questions for ADM
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HJ
Heather Jones
Heather Jones Research
8 questions for ADM
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Salvator Tiano
Bank of America
8 questions for ADM
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PS
Pooran Sharma
Stephens Inc.
6 questions for ADM
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Benjamin Theurer
Barclays Corporate & Investment Bank
4 questions for ADM
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Ben Theurer
Barclays
4 questions for ADM
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TP
Tom Palmer
JPMorgan Chase & Co.
4 questions for ADM
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Thomas Palmer
Citigroup Inc.
3 questions for ADM
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Ben Bienvenu
Stephens
2 questions for ADM
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Matthew Blair
TPH & Co.
2 questions for ADM
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Tami Zakaria
JPMorgan Chase & Co.
2 questions for ADM
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Dushyant Ailani
Jefferies
1 question for ADM
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Steve Byrne
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1 question for ADM
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Recent press releases and 8-K filings for ADM.
ADM reports Q4 2025 earnings and 2026 outlook
ADM
Earnings
Guidance Update
Dividends
- ADM reported Q4 adjusted EPS of $0.87 and FY 2025 adjusted EPS of $3.43, with total segment operating profit of $821 million in Q4 and $3.2 billion for the full year.
- Generated $2.7 billion in operating cash flow before working capital changes, realized $1.5 billion benefit from inventory reduction, and delivered a 6.3% trailing-four-quarter adjusted ROIC.
- Carbohydrate Solutions segment operating profit was $256 million (down 16% YoY), Vantage Corn Processors profit $43 million (up 187% YoY), and Nutrition segment revenues of $1.8 billion (flat YoY) with operating profit of $78 million (down 11% YoY, impacted by lower insurance proceeds).
- For 2026, ADM expects to invest $1.3–$1.5 billion in capital expenditures, maintain an 18–20% effective tax rate, target $500–$750 million in cost savings over three to five years, and sees Q1 crush margins similar to Q4 2025.
- Announced the closure of government investigations, achieved a key decarbonization milestone via carbon capture infrastructure, and paid the 376th consecutive quarterly dividend.
1 day ago
ADM reports mixed Q4 2025 results and provides 2026 guidance
ADM
Earnings
Guidance Update
Demand Weakening
- Q4 2025 segment operating profits: AS&O $444 M (-31% yoy), Carbohydrate Solutions $299 M (-6% yoy); Nutrition revenues $1.8 B (flat yoy) and operating profit $78 M (-11% yoy).
- FY 2025 segment results: AS&O $1.6 B (-34% yoy), Carbohydrate Solutions $1.2 B (-12% yoy); Human Nutrition $319 M (-2% yoy), Animal Nutrition $98 M (+66% yoy).
- Full-year 2026 outlook: adjusted EPS $3.60–$4.25, capital expenditures of $1.3–$1.5 B, an 18–20% effective tax rate, and continuation of a $500–750 M cost-savings program.
- Management notes continued weakness in Starches & Sweeteners from consumer and pricing pressures, partially offset by stronger ethanol margins and anticipated U.S. biofuel policy clarity.
1 day ago
ADM reports Q4 2025 financial results
ADM
Earnings
Guidance Update
- Adjusted EPS of $0.87 for Q4 and $3.43 for full-year 2025.
- Total segment operating profit of $821 M in Q4 and $3.2 B for FY 2025.
- AS&O segment operating profit was $444 M, down 31% YoY in Q4, and $1.6 B, down 34% YoY for the full year.
- Carbohydrate Solutions segment operating profit was $299 M, down 6% YoY in Q4, and $1.2 B, down 12% YoY for the full year.
- 2026 adjusted EPS guidance set at $3.60–$4.25.
1 day ago
ADM reports Q4 2025 results and 2026 guidance
ADM
Earnings
Guidance Update
Dividends
- Q4 2025 GAAP EPS of $0.94 and adjusted EPS of $0.87, with net earnings of $456 M (adjusted $422 M); full-year 2025 GAAP EPS of $2.23 and adjusted EPS of $3.43; operating cash flow of $5.5 B
- Full-year 2025 net earnings were $1.1 B (adjusted $1.7 B) and total segment operating profit declined 23% to $3.2 B versus 2024
- Q4 segment operating profit was $821 M, down 22% year-over-year, with Ag Services & Oilseeds down 31% and Carbohydrate Solutions down 6%
- 2026 guidance set for adjusted EPS of $3.60–$4.25, assuming constructive trade policies and U.S. biofuel policy clarity, and capital expenditures of $1.3–$1.5 B
- Quarterly dividend increased by 2%, marking 53 consecutive years of dividend growth
1 day ago
ADM reports Q4 and full-year 2025 results; provides 2026 guidance
ADM
Earnings
Guidance Update
Dividends
- Q4 2025 net earnings were $456 million (adjusted net earnings $422 million); EPS was $0.94 (adjusted EPS $0.87).
- FY 2025 net earnings were $1.1 billion (adjusted net earnings $1.7 billion); EPS was $2.23 (adjusted EPS $3.43).
- 2026 adjusted EPS is expected to be approximately $3.60 to $4.25, reflecting potential biofuel policy clarity and margin improvements.
- Quarterly dividend increased to 52.0 cents per share, marking 53 consecutive years of dividend growth.
1 day ago
ADM closes SEC and DOJ investigations
ADM
Legal Proceedings
Financial Restatement
Accounting Changes
- ADM agreed to a $40 million settlement with the SEC over prior intersegment sales reporting, without admitting or denying wrongdoing.
- The DOJ has closed its investigation into ADM with no further action, ending both probes.
- ADM restated its 2023 Form 10-K and Q1 & Q2 2024 Forms 10-Q to correct segment reporting errors, which had no impact on consolidated earnings or cash flows.
- The company has implemented significant enhancements to its financial leadership team and controls to strengthen reporting accuracy.
8 days ago
ADM settles SEC charges, pays $40M penalty
ADM
Legal Proceedings
Accounting Changes
- ADM agreed to pay a $40 million civil penalty to resolve SEC allegations of inflated Nutrition segment performance via non-market intersegment transactions; settlement concluded after nearly three years and is not expected to have a material financial impact.
- The SEC alleged that improper non-market intersegment transfers shifted profit to Nutrition to meet targets in fiscal years 2019–2022.
- Former executives Vince Macciocchi and Ray Young agreed to pay disgorgement and penalties totaling $1.18 million, with Macciocchi also facing a three-year officer/director ban; former CFO Vikram Luthar declined to settle and faces a separate SEC lawsuit.
- ADM cooperated with regulators and has implemented enhanced financial controls and leadership changes following the investigation.
- The company has a market capitalization of $32.79 billion and reported revenue of $83.21 billion, with operating margin of 1.83%, net margin of 1.43%, and an Altman Z-Score of 3.16.
8 days ago
ADM settles SEC probe for $40M
ADM
Legal Proceedings
Financial Restatement
Accounting Changes
- Archer-Daniels-Midland agreed to pay the SEC $40 million to settle an investigation into intersegment sales without admitting wrongdoing.
- The SEC’s complaint alleges retroactive rebates and price changes inflated the Nutrition segment’s operating profit to hit internal targets.
- ADM has restated prior segment reporting (including fiscal 2023 and parts of 2024) and implemented new internal controls and policies.
- The company expects the settlement to have no material impact on consolidated results and to allow it to move past the investigations.
8 days ago
ADM closes SEC and DOJ investigations over intersegment reporting
ADM
Legal Proceedings
Accounting Changes
Financial Restatement
- ADM agreed to pay $40 million to settle an SEC investigation without admitting or denying wrongdoing.
- The DOJ closed its investigation of ADM with no further action.
- In March 2024 and November 2024, ADM restated its 2023 Form 10-K and Q1/Q2 2024 Form 10-Qs to correct segment reporting errors, which did not affect consolidated earnings or cash flows.
- ADM has implemented significant enhancements to its financial controls and leadership following internal and external reviews.
8 days ago
ADM outlines 2025 performance and 2026 outlook at Goldman Sachs conference
ADM
Dividends
Guidance Update
New Projects/Investments
- ADM generated robust cash flow in 2025 through portfolio optimization and manufacturing improvements, enabling a 2% dividend increase for the 376th consecutive quarter.
- Achieved a carbon capture milestone, connecting the Columbus, Nebraska ethanol plant to the Tallgrass Trailblazer pipeline, marking ADM’s second biofuel facility with CCS capability.
- Ag Services & Oilseeds margins were pressured by delayed RVO/SRE policy; ADM expects EPA to finalize volumes in early 2026, which should boost biofuel and crush margins thereafter.
- Nutrition segment delivered sequential improvements in Q3 with record flavors sales, animal nutrition growth, and launched a North American joint venture with Alltech in specialty segments.
- On track to realize $500 M–$750 M in cost savings over 3–5 years from SG&A reduction, plant consolidations (e.g., Bushnell shutdown, Decatur East restart) and simplification measures.
Dec 3, 2025, 8:30 PM
Quarterly earnings call transcripts for Archer-Daniels-Midland.
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