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Sep 30
ADM Q3 2025 Earnings Report
ADM reported its third quarter 2025 financial results, highlighting strong business execution and advancement of its self-help agenda, despite a dynamic global environment.
Key Takeaways
ADM delivered solid third-quarter results with adjusted net earnings of $448 million and adjusted EPS of $0.92. The company achieved volume records in Ag Services & Oilseeds, sequential growth in Carbohydrate Solutions due to improved ethanol margins, and increased operating profit in Nutrition, driven by record revenue in Flavors North America. However, full-year 2025 adjusted EPS guidance was revised down to $3.25 - $3.50 per share, primarily reflecting lower crush margins due to the current biofuel demand environment.
Third quarter adjusted net earnings reached $448 million, with adjusted EPS of $0.92.
Ag Services & Oilseeds achieved volume records and improved inventory management, contributing to robust cash flow.
Nutrition segment operating profit increased by 24% year-over-year, with record revenue in Flavors North America.
Full-year 2025 adjusted EPS guidance was revised to $3.25 - $3.50 per share, down from approximately $4.00, mainly due to lower crush margins.
ADM
ADM
ADM Revenue by Segment
Revenue by Segment
Ag Services & Oilseeds Revenue
CapyFin.comCarbohydrate Solutions Revenue
CapyFin.comNutrition Revenue
CapyFin.comOther Business Revenue
CapyFin.com Forward Guidance
ADM revised its full-year 2025 adjusted EPS guidance to $3.25 - $3.50 per share, down from approximately $4.00, primarily due to lower crush margins. The company anticipates clarity on biofuel policy and global trade evolution to provide demand signals for the industry, underpinning a constructive outlook for 2026.
Positive Outlook
- Expectations of clarity on biofuel policy and global trade evolution for 2026.
- Continued advancement of portfolio optimization initiatives.
- Ongoing cost savings through targeted streamlining efforts.
- Efficient plant operations contributing to robust cash flow.
- Asset network and skilled workforce provide reliable strength for stakeholders.
Challenges Ahead
- Revised full-year 2025 adjusted EPS guidance downwards.
- Lower crush margins are the primary reason for the revised guidance.
- Highly dynamic global environment impacting operations.
- Muted demand in Crushing subsegment due to deferred U.S. biofuel policy.
- Biodiesel and refining margins negatively impacted by deferred biofuel policy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income