Archer-Daniels-Midland reported a beat on adjusted earnings for the third quarter of 2026 despite missing revenue estimates, driven by a constructive biofuels environment and strong operational execution. The company raised its full-year 2026 adjusted EPS guidance to a range of $5.50 to $5.80, up from the previous range of $5.15 to $5.60, while simultaneously lowering capital expenditure projections.
Key Highlights
- Ag Services & Oilseeds (AS&O) operating profit jumped 105% YoY to $778 million, fueled by a $298 million increase in Crushing profit amid strong soybean meal demand and RVO policy tailwinds.
- Carbohydrate Solutions operating profit rose 40% to $470 million, as robust ethanol margins and policy incentives offset softness in liquid sweeteners.
- Animal Nutrition profit grew 21% YoY, benefiting from 2025 portfolio optimization and ongoing operational improvements despite human nutrition headwinds.
- Total segment operating profit increased 64% to $1.38 billion, reflecting broad operating profit growth across all primary business segments.