ADM earnings beat estimates and lift its outlook, but sales miss forecasts
Earnings results
- EPS beat +8.6%
Actual: $1.77 · Cons.: $1.63 (adjusted diluted EPS)
- Revenue miss -1.6%
Actual: $22.335B · Cons.: $22.7B (reported consolidated revenue)
- Guidance
Raised FY2026 adjusted diluted EPS to $5.50–$5.80 from $5.15–$5.60.
Earnings and the stock move
ADM released third-quarter earnings before open on November 3 and raised its full-year adjusted profit-per-share outlook to $5.5–$5.8 from $5.15–$5.6. The issuer attributes stronger results to supportive North American biofuel margins and execution. Adjusted EPS exceeded the dated pre-release consensus, while revenue fell short of that benchmark. Shares declined during the following regular session. For investors, the next question is whether stronger processing profits can persist as biofuel policy, energy prices and global trade flows change.
Q3 2026 ended September 30 earnings recap
ADM raised its profit outlook after stronger biofuel earnings, but sales fell short of forecasts. Shares declined 5.7% during trading on November 3, 2026, following the report.
- Adjusted EPS, or profit per share excluding selected items, was $1.77. That was 8.6% above the $1.63 consensus published a day before results; GAAP profit per share was $1.7.
- Revenue was $22.34 billion, up 9.6% from a year earlier. It was 1.6% below the $22.7 billion consensus published before the release.
- Full-year adjusted profit-per-share guidance rose to $5.5–$5.8 from $5.15–$5.6. Management expects fourth-quarter operating profit to improve in every segment from a year earlier.
- Ag Services and Oilseeds operating profit more than doubled to $778 million. Stronger North American biofuel margins helped offset weaker trading results in some markets.
- Carbohydrate Solutions operating profit rose 40% to $470 million, while Nutrition increased 3% to $134 million. The recovery is reaching several businesses at different speeds.
- Capital spending guidance fell to $1.2–$1.3 billion from $1.3–$1.5 billion. Lower spending can help cash flow, while the quality of investment still matters for future growth.
Watch whether stronger processing margins hold through the fourth quarter. Biofuel policy, energy prices, trade flows and crop prices can quickly change profitability.
Financials and technicals
Charts through Nov 2, 2026. The session move above may reflect later news.
Technical setup and risks
The charts show November 2 at close, before earnings. That $75.77 close was below the 20-day and 50-day averages. November 3 trading moved below the prior $75.3–$77.3 low area. Sustained recovery above that area would improve the rebound case; trading below it leaves the recovery unconfirmed. The prior $78–$80 closing area is a further hurdle. These are approximate historical areas, not guaranteed turning points.
AI-assisted research with source and calculation checks. Prices may be delayed. Technical charts use the stated completed session, which can precede the quoted intraday move. Educational information; investing involves risk.