ADM Q2 FY2026: adjusted EPS $1.84, 2026 guidance raised to $5.15-$5.60
ADM's second quarter was a clean beat with a bigger raise: adjusted EPS of $1.84 against a $1.45 consensus, and full-year guidance lifted to $5.15-$5.60 from $4.15-$4.70. The profit came from crushing and ethanol margins, not cost cuts. Read the quarter as a policy-and-energy-price story that is currently running ADM's way, and judge it on whether that environment holds into the second half.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $1.87 versus $0.45 a year ago, and adjusted EPS was $1.84 versus $0.93. That is $0.39 above the $1.45 consensus, a 26.9% beat, and the gap between GAAP and adjusted EPS was only $0.03, so there is very little smoothing to hide behind. The result is not a one-line trick either: earnings before income taxes rose from $0.28 billion to $1.09 billion.
Revenue was $22.68 billion, up 7.2% from $21.17 billion, and gross profit rose to $1.94 billion, an 8.5% margin, from $1.37 billion. All of the growth came from Ag Services and Oilseeds at $17.92 billion, up 10.1%, while Carbohydrate Solutions slipped 1.3% to $2.76 billion and Nutrition fell 4.6% to $1.90 billion. One data caveat: the structured extract lists quarterly revenue as $6.39 billion and a negative gross margin, both of which contradict the release's own tables.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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