Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
ADM's Q2 FY2026 performance rebounded sharply, with total segment operating profit rising $620 million year-over-year as all three segments benefited from favorable U.S. biofuel policy announcements. Management highlighted the EPA's final RVO for 2026–2027 and IRS-proposed Section 45Z regulations as key drivers of improved crush and ethanol margins. The quarter also benefited from a $324 million reduction in impairment and restructuring charges compared to the prior-year period, and a lower effective tax rate of 16.2%. Ongoing tariff and regulatory uncertainty, however, remain central risks for the remainder of the year.
Revenue
$22.68B
+7.16% YoY
EPS (Diluted)
$1.87
+315.56% YoY
Gross Margin
8.5%
+2.1 pts YoY
Source: SEC XBRL
Archer-Daniels-Midland (ADM) reported Q2 FY2026 revenue of $22.68B, up 7.2% year over year. ADM's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 1.84 | 1.46 | Beat +26.5% |
| Mar 2026 | 0.71 | 0.67 | Beat +6.6% |
| Dec 2025 | 0.87 | 0.80 | Beat +8.2% |
| Sep 2025 | 0.92 | 0.86 | Beat +6.8% |
Adjusted (non-GAAP) EPS of $1.84 versus the $1.46 analyst consensus — a +26.5% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $1.87.
3 reported segments · SEC XBRL
Segment revenue totals $22.57B; with $106M of reconciling items (corporate, unallocated and eliminations) it ties to the $22.68B of consolidated revenue on the income statement.
Compiled by AI from 10-Q Item 2 of this filing
Total segment operating profit increased $620 million to $1.45 billion, driven by higher results across all three reportable segments, as favorable biofuel policy announcements lifted crush margins and ethanol values.
Source: 10-Q Item 2 MD&A
Ag Services and Oilseeds operating profit rose $488 million, reflecting improved North America crush margins supported by the EPA's RVO announcement, higher soybean meal sales, and $20 million in insurance proceeds related to the Decatur East plant.
Source: 10-Q Item 2 MD&A
Carbohydrate Solutions segment operating profit increased $74 million (22%), as Vantage Corn Processors benefited from stronger ethanol margins driven by policy incentives and effective risk management.
Source: 10-Q Item 2 MD&A
Nutrition segment operating profit rose 51% to $172 million, with Human Nutrition driven by higher Flavors sales and margins, and Animal Nutrition benefiting from portfolio actions and cost optimization.
Source: 10-Q Item 2 MD&A
ADM reiterated its program to deliver over $500 million in aggregate cost savings over 3–5 years through cost optimization and portfolio simplification initiatives, commencing in 2025.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 0 high, 5 medium, 0 low
Changes in U.S. biofuel policies such as the Renewable Fuel Standard and Section 45Z tax credits could materially impact ADM's ethanol, biodiesel, and crush margins. Final regulations and future legislative actions remain uncertain and may introduce volatility.
Source: 10-Q Financial Statements (XBRL)
ADM's operations are highly sensitive to agricultural commodity prices. Factors like weather, crop plantings, and global demand can cause rapid price swings, affecting both revenues and cost of goods sold, and pressuring margins.
Source: 10-Q Financial Statements (XBRL)
Tariff disputes and geopolitical tensions (e.g., the IEEPA tariff ruling and USMCA review) could disrupt global trade flows and supply chains, potentially affecting ADM's import/export activities and customer access.
Source: 10-Q Financial Statements (XBRL)
With subsidiaries in over 70 countries, ADM faces significant foreign currency translation and transaction risks, particularly in Brazil, Argentina, and Europe, which may adversely impact reported results.
Source: 10-Q Financial Statements (XBRL)
Plant incidents, such as the Decatur East event, can lead to unplanned downtime, higher maintenance expenses, and reliance on insurance proceeds, which may not fully cover losses and could affect profitability in future periods.
Source: 10-Q Financial Statements (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 22.68 $B | 21.17 $B | +7.16% |
Cost of Revenue $B | 20.75 $B | 19.80 $B | +4.80% |
Gross Profit $B | 1.94 $B | 1.37 $B | +41.24% |
Net Income $M | 908.00 $M | 219.00 $M | +314.61% |
EPS (Basic) $ | 1.87 $ | 0.45 $ | +315.56% |
EPS (Diluted) $ | 1.87 $ | 0.45 $ | +315.56% |
SG&A Expense $B | 1.03 $B | 0.91 $B | +12.62% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
ADM reported modest Q1 FY2026 growth with revenue up 1.6% to $20.49B and net income up 1.0% to $298M, while operating cash flow turned strongly positive at $150M versus -$342M a year ago.
ADM's FY2025 results showed significant pressure across all profitability metrics, with revenue declining 6.2% to $80.3B, net income falling 40.1% to $1.08B, and EPS dropping to $2.23, though operating cash flow nearly doubled to $5.45B.
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