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12:30
Aug 04 ◎

ADM FY2026 Q2 Watch

Archer-Daniels-Midland Company (ADM) FY2026 Q2 Earnings Call

WLMLY SYT ADM ▾

Monish Patolawala

ADM's equity earnings from Wilmar declined, reflecting weaker performance in Wilmar's operations or market conditions.

"For our investment in Wilmar, equity earnings were $60 million for the quarter, down 22% compared to the prior year quarter."

WLMLY WATCH

Juan Luciano

ADM hires Syngenta's CEO as COO, indicating a strategic focus on agricultural technology and operational excellence.

"He joins us from Syngenta, where he serves as CEO of one of the world's largest agricultural technology companies"

SYT WATCH

Juan Luciano

ADM raised its full-year EPS guidance significantly, driven by strength in biofuels, ag services, and nutrition, with expectations for continued robust performance in the second half.

"were again raising our full-year 2026 adjusted EPA's guidance, now to a range of $5.15 to $5.60"

ADM WATCH

HIGH

12:30
May 05 ◎

ADM FY2026 Q1 Watch

Archer-Daniels-Midland Company (ADM) FY2026 Q1 Earnings Call

WIL.SI HEN3.DE ADM GPRE TSN ▾

Manish Patilwala

ADM's equity stake in Wilmar generated lower quarterly earnings, reflecting continued softer conditions in the Asian agribusiness and food processing sectors.

"Equity earnings from our investment in Wilmar was $66 million for the quarter, down 8% compared to the prior quarter."

WIL.SI WATCH

Juan Luciano

Winning an innovation award from Henkel signals ADM's biosolutions are gaining commercial traction with major consumer goods companies, potentially leading to greater volumes and high-margin revenue.

"A concrete example of this is a starch-based component we developed for fabric softeners, for which we were recognized earlier this year with the Best Innovation Contributor Award by Henkel Consumer Brands."

HEN3.DE WATCH

Juan Luciano

Management raised full-year EPS guidance significantly, driven by improved crushing and ethanol margins following EPA's final RVO rule, and expects this constructive environment to continue.

"Based on our expectation that we will continue to successfully advance our priorities throughout the remainder of the year, combined with the expectation that the constructive margin environment we are in continues, we are raising our"

ADM WATCH

Juan Luciano

ADM confirms 45Z clean fuel tax credit impact for full year 2026 is now expected at $150 million, up from $100 million previously guided, indicating higher-than-anticipated government policy support benefits. — Higher 45Z benefits for ADM suggest the entire US ethanol industry may be benefiting more than expected from policy incentives, boosting margins for producers like Green Plains and big players like Bunge in crushing.

"So at this point in time, given what happened in the Q1, we are increasing the expected amount. I think we mentioned last time it was going to be $100 million. Now we're saying it's $150 million."

GPRE WATCH

Juan Luciano

US soybean crush rates in March jumped 6% month-over-month and are running about 10% higher than last year, indicating a rapid supply response to the improved margin environment post-RVO rule. — A surge in US crush rates increases supply of soybean meal for livestock feed and soybean oil for renewable diesel, potentially affecting prices and margins for downstream customers like Tyson Foods and biofuel producers.

"So if you look at crash rates for March, we jumped 6%. So crash rates in March for North America run about 10% higher than last year."

TSN WATCH

Juan Luciano

The invert in the soy crush futures curve means forward margins are weaker; management attributes this to broad uncertainties (trade, energy, weather) that are holding back customers from forward-booking, keeping near-term demand spot-led. — The inverted crush curve signals that the current high margins are viewed as transitory, with the market pricing in weaker fundamentals for later in 2026, which could be a headwind for crushers like ADM in H2.

"So at this point in time, given what happened in the Q1, we are increasing the expected amount. I think we mentioned last time it was going to be $100 million. Now we're saying it's $150 million."

BG WATCH

HIGH

13:30
Feb 03 ◎

ADM FY2025 Q4 Watch

Archer-Daniels-Midland Company (ADM) FY2025 Q4 Earnings Call

ADM GPC ▾

Juan Luciano

Management is guiding to EPS growth in 2026, underpinned by expectations of US biofuel policy clarity, improved global trade, and growth in the nutrition segment, despite ongoing consumer softness in some areas.

"Overall, there is much to look forward to in 2026 and beyond. Our current outlook for adjusted EPS in 2026 is a range between $3.60 and $4.25, which reflects growth over 2025."

ADM WATCH

Juan Luciano

ADM expects ~$100M of benefit from 45Z clean fuel tax credits in 2026, but notes it is highly variable depending on final guidance, plant carbon intensity, and industry pricing dynamics. — This is the first quantified estimate from ADM on the impact of 45Z, providing a baseline for investors but also highlighting the uncertainty in modeling the benefit across the industry.

"We think when we put in our estimate, we think that it could be approximately $100 million. But as I said, just to give you a flavor, there are many variables, so take that with a grain of salt."

GPC WATCH

HIGH

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