ADM
Archer-Daniels-Midland Company57.98
-2.22-3.69%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Nutrition strong underlying; crush costs flagged
Q&A largely reaffirmed ADM's prepared outlook for a constructive 2026 amid policy fluidity, but surfaced nutrition's underlying strength—flavors up ~60% and ambotics surging excluding prior insurance—while specialty ingredients recover post-Decatur East amid customer regain efforts. Crush lagged comps due to elevated North American manufacturing costs like energy and labor, targeted in ongoing $500M-$750M cost savings. Starches/sweeteners volumes fell 5-7% from GLP-1 shifts, high prices, and prudence, offset by ethanol. Management flagged ~$100M 45Z potential and July+ RVO timing lags. Q&A adds execution color. Investors will watch policy digestion and nutrition ramp.
Key Stats
Market Cap
27.86BP/E (TTM)
23.57Basic EPS (TTM)
2.46Dividend Yield
0.03%Recent Filings
8-K
ADM appoints McMurray to board
ADM expanded its board from 12 to 13 directors and appointed Michael C. McMurray, ex-CFO of LyondellBasell, as independent director effective March 9, 2026. He joins the Audit and Sustainability and Technology committees, bringing 30+ years in finance, strategy, and M&A from industrial giants. McMurray bolsters ADM's growth push. No related transactions disclosed.
10-K
FY2025 results
ADM's FY2025 revenues fell 6% y/y to $80.3B amid lower commodity prices and volumes, with segment operating profit dropping 23% to $3.2B (derived). Ag Services and Oilseeds bore the brunt, down 34% on compressed crush margins from deferred biofuel policies and trade uncertainty, though Q4 saw partial soybean export recovery to China. Nutrition eked out 8% growth on flavors strength, while Carbohydrate Solutions dipped 12% from softer demand. Operating cash flow surged to $5.5B on working capital releases; no buybacks, steady $2.04/share dividend. Q4 momentum flickered in exports, but impairments totaled $473M. Geopolitical risks threaten trade flows.
8-K
ADM Q4 EPS down, 2026 guide up
8-K
ADM settles SEC probe
ADM settled its SEC investigation into intersegment sales reporting on January 27, 2026, agreeing to a $40 million civil penalty without admitting wrongdoing; DOJ closed its probe with no action. Errors hit only segment reporting—no impact on consolidated earnings or cash flows. Investigations now fully resolved. Penalty won't materially hurt finances.
8-K
ADM cuts 2025 EPS guidance
ADM reported Q3 2025 earnings of $108 million, with adjusted EPS of $0.92, down 16% year-over-year amid biofuel policy delays and trade challenges crushing margins. Nutrition surged 24% to $130 million on flavor and animal nutrition gains, while YTD operating cash flow hit $5.8 billion. Revised full-year adjusted EPS guidance to $3.25-$3.50. Cash flow stays robust.
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