Analyst Consensus ?
ConsensusHold36 ratings
Bullish1233.3%
Neutral2261.1%
Bearish25.6%
Archer-Daniels-Midland Company · ADM · FY2026 Q2 · Calendar Q3 2026
ADM Raises 2026 EPS Guidance on Biofuels and Nutrition
The supplied analysis supports a constructive near-term operating narrative: ADM combined strong Q2 adjusted EPS with higher full-year guidance, resilient biofuel margins, and Nutrition growth. The longer-term case depends on sustaining margins and executing capacity, natural-colors, and precision-fermentation initiatives.
Reported Before market openNYSEConsumer Defensive
$39.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.84
Consensus $1.42
EPS surprise
+29.6%
Reported versus consensus
Reported revenue
$22.68B
Consensus $22.75B
Revenue surprise
-0.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.3%
Event window
SPY move
+1.8%
Same window
Abnormal move
+0.5%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+5.9%
Up to 20 sessions
ADMSPY benchmark
Ask FN2 about ADM FY2026 Q2
Transcript, numbers and history already loaded
Why did ADM rise 2.3% after beating EPS estimates in FY2026 Q2?What changed in ADM's guidance and outlook in FY2026 Q2?Give me the bull and bear case for ADM after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Q2 results showed adjusted EPS of $1.84 and management raised full-year 2026 adjusted EPS guidance to $5.15-$5.60. The discussion also emphasized stronger Nutrition momentum, four-site crush debottlenecking, and continued investment in precision fermentation and carbon capture.
Guidance delta
Management raised full-year 2026 adjusted EPS guidance to $5.15-$5.60 from the prior quarter's $4.15-$4.70 range.
Key takeaways
- Q2 adjusted EPS was $1.84, with reported revenue of $22.681 billion.
- Biofuel margins remained constructive, supported by renewable volume obligations and high energy prices.
- Nutrition momentum centered on Flavors and Natural Colors.
- Management is prioritizing debottlenecking, precision fermentation, and decarbonization.
- Cash generation supports disciplined capex, dividend continuity, and possible opportunistic repurchases.
Management priorities
- Expand four U.S. crush facilities through debottlenecking.
- Build precision-fermentation capabilities and microbial-protein products.
- Scale the natural-colors pipeline with additional customer contracts.
- Continue carbon-capture and other decarbonization projects.
- Maintain dividend growth and consider opportunistic share repurchases.
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Analyst 52W Price Targets
$82.34Current
$50Low
$72.94Average
$100High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Aug 17, 2026 |
| Morgan Stanley | Equal Weight | Underweight | Upgrade | Aug 5, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 5, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 5, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | May 6, 2026 |
| Jefferies | Hold | Hold | Maintain | Apr 6, 2026 |
| B of A Securities | Underperform | Neutral | Downgrade | May 8, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Apr 15, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jan 23, 2024 |
| Stifel | Hold | Buy | Downgrade | Jan 22, 2024 |
| Roth MKM | Neutral | Buy | Downgrade | Jan 22, 2024 |
| Baird | Neutral | Outperform | Downgrade | Jan 22, 2024 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Oct 25, 2023 |
| Argus Research | Buy | Buy | Maintain | Aug 1, 2023 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 12, 2022 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 27, 2022 |
| RBC Capital | Outperform | Outperform | Maintain | Jan 27, 2021 |
| Seaport Global | Buy | Buy | Maintain | Jul 28, 2020 |
| Monness, Crespi, Hardt | Neutral | Sell | Upgrade | Mar 2, 2020 |
| Monness Crespi Hardt | Neutral | Sell | Upgrade | Mar 2, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Jul 19, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Apr 30, 2019 |
| Argus | Buy | Hold | Upgrade | Nov 8, 2018 |
| Buckingham | Buy | Buy | Maintain | Aug 1, 2018 |
| PiperJaffray | Neutral | Neutral | Maintain | Dec 14, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Aug 29, 2016 |
| BB&T Capital | Hold | Hold | Maintain | Jul 12, 2016 |
| Standpoint Research | Hold | Buy | Downgrade | Apr 28, 2016 |
| Bank of America | Neutral | Buy | Downgrade | Mar 7, 2016 |
| Vertical Research | Hold | Hold | Maintain | Jul 7, 2015 |
| Miller Tabak | Buy | Hold | Upgrade | Jul 7, 2014 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Feb 5, 2014 |
| Standpoint | Hold | Buy | Downgrade | Feb 13, 2013 |
| Topeka Capital | Hold | Hold | Maintain | Aug 1, 2012 |
| Topeka | Hold | Hold | Maintain | Aug 1, 2012 |
| Deutsche Bank | Hold | Hold | Maintain | May 2, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $82.34. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Benjamin Theuer | $90 | $79.87 | +9.3% | Aug 5, 2026 |
| Morgan Stanley | Steven K Haynes | $79 | $79.87 | -4.1% | Aug 5, 2026 |
| Morgan Stanley | Analyst unavailable | $60 | $85.11 | -27.1% | Jul 20, 2026 |
| UBS | Manav Gupta | $95 | $80.24 | +15.4% | Jun 15, 2026 |
| UBS | Analyst unavailable | $90 | $78.02 | +9.3% | May 7, 2026 |
| Morgan Stanley | Analyst unavailable | $58 | $76.61 | -29.6% | May 6, 2026 |
| Barclays | Analyst unavailable | $85 | $79.19 | +3.2% | May 6, 2026 |
| Barclays | Analyst unavailable | $68 | $67.52 | -17.4% | Feb 19, 2026 |
| BMO Capital | Andrew Strelzik | $63 | $67.39 | -23.5% | Feb 4, 2026 |
| Morgan Stanley | Steven Haynes | $50 | $60.2 | -39.3% | Dec 16, 2025 |
| Coker Palmer | Thomas Palmer | $59 | $60.12 | -28.3% | Nov 4, 2025 |
| Coker Palmer | Thomas Palmer | $64 | $62.7 | -22.3% | Apr 3, 2024 |
| BMO Capital | Andrew Strelzik | $60 | $58.27 | -27.1% | Mar 13, 2024 |
| Wolfe Research | Sam Margolin | $74 | $58.27 | -10.1% | Mar 13, 2024 |
| Goldman Sachs | Adam Samuelson | $64 | $58.27 | -22.3% | Mar 13, 2024 |
| Stifel Nicolaus | Vincent Anderson | $58 | $57.07 | -29.6% | Mar 12, 2024 |
| CFRA | Arun Sundaram | $67 | $57.07 | -18.6% | Mar 12, 2024 |
| Barclays | Benjamin Theurer | $60 | $54.81 | -27.1% | Mar 11, 2024 |
| Wolfe Research | Sam Margolin | $117 | $84.14 | +42.1% | Aug 12, 2022 |
| Credit Suisse | Analyst unavailable | $92 | $90 | +11.7% | Apr 27, 2022 |
| Barclays | Benjamin Theuer | $95 | $92.18 | +15.4% | Apr 22, 2022 |
| Bank of America Securities | Steve Byrne | $100 | $94.46 | +21.4% | Apr 19, 2022 |
| Stifel Nicolaus | Vincent Anderson | $100 | $94.57 | +21.4% | Apr 11, 2022 |
| Stephens | Ben Bienvenu | $67 | $62.71 | -18.6% | Oct 12, 2021 |
| Credit Suisse | Robert Moskow | $60 | $60.46 | -27.1% | Apr 27, 2021 |
Track every rating change on ADM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationArcher-Daniels-Midland Company (ADM) stands as a major global enterprise in the agricultural sector, focused on the sourcing, transportation, storage, processing, and distribution of a wide array of agricultural commodities, finished goods, and essential ingredients. Its expansive operations span numerous countries, including pivotal markets such as the United States, Switzerland, the Cayman Islands, Brazil, Mexico, and the United Kingdom, alongside a broader international presence. ADM's business is strategically organized into three core divisions: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The company's foundational activities involve acquiring, storing, cleaning, and distributing various agricultural raw materials, including oilseeds, corn, wheat, milo, oats, and barley. Beyond raw material handling, ADM is actively engaged in the global import, export, and distribution of agricultural commodities and feed products, complemented by specialized structured trade finance services.…
Historical context
All ADM earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
| DG Dollar General Corporation | FY2027 Q2 · Calendar Q3 2026 | +23.4% | +2.5% | Dollar General Raises FY2026 Outlook After Strong Q2 |
| DLTR Dollar Tree, Inc. | FY2027 Q2 · Calendar Q3 2026 | +134.8% | -3.9% | Dollar Tree: Strong Q2 execution, but guidance held steady |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the ADM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-04T18:07:49.643482+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-09-23T03:20:53.111738+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T03:20:53.108989+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.