ADM raises 2026 outlook after steady first quarter results
The company reports higher earnings and improved outlook, supported by stronger ethanol margins and policy clarity in the U.S.
USA – Archer Daniels Midland Company (ADM) reported first quarter 2026 results with net earnings of US$298 million and adjusted net earnings of US$345 million, as it lifted its full year earnings outlook.
The company posted earnings per share of US$0.62 and adjusted earnings per share of US$0.71 for the quarter ended March 31, 2026. This marks a slight increase from the same period last year, when adjusted earnings per share stood at US$0.70.
ADM also raised its full year 2026 adjusted earnings per share guidance to between US$4.15 and US$4.70, up from its earlier range of US$3.60 to US$4.25. The company links this update to expected gains in its crushing and ethanol businesses, following clear direction on U.S. biofuels policy earlier in the year.
“Within a dynamic global landscape, ADM delivered robust operating performance in the first quarter, with our crushing and ethanol businesses capitalizing on a constructive biofuels environment and our Nutrition business benefiting from higher Flavors sales, the ongoing Decatur East plant recovery, and continued improvements in Animal Nutrition,” said Chair and CEO Juan Luciano.
“With U.S. biofuels policy clarity now providing a stable regulatory framework, combined with our team’s solid execution, we are raising our earnings expectations for 2026.”
Total segment operating profit rose 2 percent to US$764 million. The Carbohydrate Solutions segment led this growth, with operating profit up 48 percent to US$356 million. The increase came mainly from stronger ethanol margins, supported by policy support and risk management.
The Nutrition segment also posted solid growth, with operating profit rising 42 percent to US$135 million. Both human and animal nutrition units recorded gains, helped by higher sales and improved margins.
However, results in the Ag Services and Oilseeds segment fell. Operating profit dropped 34 percent to US$273 million. The decline came mainly from timing impacts linked to commodity markets, even as export activity and processing volumes showed some improvement.
ADM reported earnings before income taxes of US$384 million, up from US$353 million in the same quarter last year. The company also noted negative mark to market impacts of about US$275 million during the quarter.
Capital spending for 2026 is expected to range between US$1.3 billion and US$1.5 billion.
The latest update builds on ADM’s 2025 performance, where the company reported full year net earnings of US$1.1 billion and issued its initial 2026 outlook.
The firm continues to monitor factors such as energy costs, trade conditions, and supply chain changes as it moves through the year.
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