ADM raises 2026 earnings guidance as Q2 profit surges

USA – Archer-Daniels-Midland Company (ADM) has reported robust financial results for the second quarter ended June 30, 2026, driven by expanding crushing margins, favorable US biofuel policy dynamics, and operational recovery across its Nutrition segment. 

Net earnings reached US$908 million, or US$1.87 per diluted share, up sharply from US$0.45 per share in the prior-year period. Adjusted diluted earnings per share (EPS) jumped 98% year-over-year to US$1.84, while total segment operating profit rose 75% to US$1.45 billion. 

The Ag Services & Oilseeds (AS&O) division delivered the primary growth momentum, with segment operating profit soaring 129% to US$867 million. 

Performance was anchored by significant margin expansion in North American oilseed crushing and Ag Services, supported by lower US corn costs, strong global meal export demand, and favorable energy prices. 

Refined Products and Other earnings remained relatively stable at US$151 million, though slightly moderated by mark-to-market valuation timing impacts and localized margin pressures in South America. 

In the Carbohydrate Solutions segment, operating profit climbed 22% year-over-year to US$411 million. 

Strong North American ethanol margins provided a substantial tailwind, boosted by federal Renewable Volume Obligations (RVO) under the US Renewable Fuel Standard and elevated international energy prices that enhanced ethanol’s competitiveness against alternative blendstocks. 

Within the division, Vantage Corn Processors surged to US$85 million in operating profit from US$33 million in second-quarter 2025, while Starches and Sweeteners grew 7% to US$326 million. 

The Nutrition division continued its upward operational trajectory, posting a 51% gain in operating profit to US$172 million. 

Human Nutrition led the segment’s recovery, rising 51% to US$139 million on strong seasonal demand in Flavors and sustained efficiency improvements at the company’s Decatur East facility. 

Animal Nutrition operating profit also rose 50% to US$33 million, reflecting structural cost actions taken throughout 2025. 

Following the results, ADM raised its full-year 2026 adjusted EPS guidance to a range of US$5.15 to US$5.60, up from its previous outlook of US$4.15 to US$4.70. 

Chair and CEO Juan Luciano noted that disciplined operational focus and constructive biofuel fundamentals give management confidence into the back half of the year. 

Capital expenditures remain projected between US$1.3 billion and US$1.5 billion for the full year. 

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.