Archer-Daniels-Midland Co
XMUN:ADM
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Archer-Daniels-Midland Co
Archer-Daniels-Midland Co., or ADM, is one of the big middlemen in the global food and farm supply chain. It buys crops such as corn, soybeans, wheat, and oilseeds from farmers and turns them into ingredients and products used by food makers, animal feed producers, fuel companies, and other industrial customers. Its business is mostly about moving, storing, processing, and blending these raw materials into forms that customers can use. ADM makes money by handling huge flows of agricultural commodities and by selling processed products like vegetable oils, meal ingredients, sweeteners, starches, animal nutrition products, and other food and feed inputs. It also earns fees and trading gains from logistics, storage, and merchandising activities, where it manages the buying, selling, and transport of crops around the world. Its customers are mostly food manufacturers, livestock and poultry producers, beverage makers, biofuel producers, and other companies that need large, reliable supplies of farm-based ingredients. What makes ADM different is its role as a bridge between farms and end markets. It does not usually sell finished foods to consumers; instead, it sits earlier in the chain and helps turn harvests into standardized ingredients and bulk materials. That makes it a key infrastructure business for the food system, with demand tied to global agriculture, trade flows, and the need to process raw crops efficiently.
Archer-Daniels-Midland Co., or ADM, is one of the big middlemen in the global food and farm supply chain. It buys crops such as corn, soybeans, wheat, and oilseeds from farmers and turns them into ingredients and products used by food makers, animal feed producers, fuel companies, and other industrial customers. Its business is mostly about moving, storing, processing, and blending these raw materials into forms that customers can use.
ADM makes money by handling huge flows of agricultural commodities and by selling processed products like vegetable oils, meal ingredients, sweeteners, starches, animal nutrition products, and other food and feed inputs. It also earns fees and trading gains from logistics, storage, and merchandising activities, where it manages the buying, selling, and transport of crops around the world. Its customers are mostly food manufacturers, livestock and poultry producers, beverage makers, biofuel producers, and other companies that need large, reliable supplies of farm-based ingredients.
What makes ADM different is its role as a bridge between farms and end markets. It does not usually sell finished foods to consumers; instead, it sits earlier in the chain and helps turn harvests into standardized ingredients and bulk materials. That makes it a key infrastructure business for the food system, with demand tied to global agriculture, trade flows, and the need to process raw crops efficiently.
Strong quarter: ADM reported adjusted EPS of $1.84 and segment operating profit of $1.5 billion, helped by biofuels, strong execution, and improving Nutrition results.
Guidance raised: Full-year 2026 adjusted EPS guidance was lifted sharply to $5.15 to $5.60 from $4.15 to $4.70.
Biofuels tailwind: Crushing and ethanol benefited from supportive policy and energy prices, and ADM now expects the 45Z benefit to rise to about $250 million in 2026 from about $150 million.
Nutrition improving: Nutrition operating profit rose 51%, led by Flavors, Decatur East progress, and better Animal Nutrition, while natural colors and precision fermentation are emerging growth platforms.
Capital discipline: ADM is pursuing lower-cost brownfield capacity expansions, expects 2026 CapEx of $1.3 billion to $1.5 billion, and said it may resume opportunistic share repurchases later this year.