Archer-Daniels-Midland Reports Q3 Earnings of $1.70 per Share, Raises 2026 Outlook

What happened

Archer-Daniels-Midland reported third-quarter 2026 net earnings of $821 million and diluted earnings per share of $1.70, compared with $108 million and $0.22 a year earlier. Adjusted earnings per share was $1.77, and the company raised its 2026 adjusted earnings per share guidance to about $5.50 to $5.80.

Confirmed

Global impact / market context

Much higher profit shows the grain processor earned more from turning crops into food, feed and fuel ingredients. The raised full-year outlook signals management expects the stronger conditions to continue, which supports future cash available for dividends, buybacks and capital spending on plants.

Analyst inference

Results were helped by a supportive North American biofuels policy environment, which means government rules requiring renewable fuel use, and higher global energy prices. Strong soybean meal demand and higher crush volumes lifted processing results, while delayed Brazilian biofuels policy changes pressured South American crush margins. Revenue rose to $22.335 billion from $20.372 billion.

Analyst inference

What to watch

1. The company projects 2026 capital expenditures of $1.2 billion to $1.3 billion, which means spending on plants and equipment. Watch whether these projects stay on budget and begin adding processing capacity. Confirmed
2. Watch whether management gives more detail on how much of the raised 2026 adjusted earnings per share guidance of about $5.50 to $5.80 depends on biofuel policy and energy prices staying favorable. Proposed
3. Watch South American crush margins, which faced pressure from delayed biofuels policy changes in Brazil. If those delays persist, profits from soybean processing there could stay weak and offset stronger North American results. Analyst inference

Evidence

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