ADM raises 2026 profit outlook after Q1 hit by timing impacts
The agribusiness giant lifted its full-year adjusted EPS range despite a $275 million mark-to-market drag in the first quarter.
CHICAGO – Archer-Daniels-Midland raised its full-year profit outlook after posting first-quarter 2026 earnings that were affected by negative timing impacts, signaling that a clearer U.S. biofuels policy backdrop may be creating a more constructive environment for its core businesses.
The agricultural processor reported net earnings of $298 million, or $0.62 per share, for the quarter ended March 31. On an adjusted basis, which removes certain items, net earnings were $345 million, or $0.71 per share.
The divergence between reported and adjusted results was driven by approximately $275 million in net negative mark-to-market and timing impacts during the period.
Despite the quarterly noise, ADM boosted its full-year 2026 guidance for adjusted earnings per share to a range of approximately $4.15 to $4.70. The company’s prior forecast was for $3.60 to $4.25 per share.
Management attributed the improved forecast to sustained progress on company priorities and a more supportive operating environment following recent policy clarity for U.S. biofuels. The company said the expected earnings improvement would come primarily from its crushing and ethanol businesses.
Industry participants will be watching for signs of margin improvement in ADM’s crushing and ethanol segments to validate the company’s more optimistic full-year stance.