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ADM · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 7.2% y/y to $22.68B, operating margin 4.0% vs 1.5%, net income $908M (+314.6% y/y).
Net Earnings Attributable to ADM
$908M
up 315% y/y
Revenues
$22,681M
up 7.2% y/y
Operating income (calculated)
$896M
up 178% y/y
Gross Profit
$1,935M
up 41.2% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Revenues | $22,681 · +7.2% |
| Cost of products sold | $20,746 · +4.8% |
| Gross Profit | $1,935 · +41.2% · 8.5% margin |
| Selling, general, and administrative expenses | $1,026 · +12.6% |
| Asset impairment, exit, and restructuring costs | $13 · −90.5% |
| Operating income (calculated) | $896 · +178% · 4.0% margin |
| Equity in (earnings) of unconsolidated affiliates | $142 · +6.0% |
| Interest and investment (income) expense | $116 · vs −$70 |
| Interest expense | $148 · −6.9% |
| Other (income) - net | $82 · +57.7% |
| Earnings Before Income Taxes | $1,088 · +290% |
| Income tax expense | $176 · +184% · 16.2% effective rate |
| Less: Net earnings (loss) attributable to non-controlling interests | $4 · vs $2 |
| Net Earnings Attributable to ADM | $908 · +315% · $1.87/sh · 4.0% margin |
Verdict: revenue grew 7.2% y/y to $22.68B, operating margin 4.0% vs 1.5%, net income $908M (+314.6% y/y).
Source and notation
Source: Archer-Daniels-Midland press release, 8-K EX-99.1 of 08/04/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL. Operating income is calculated (revenue less costs and operating expenses): the release does not report it.
Open as an image: ADM, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “ADM Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/adm/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/adm/q2-2026"><img src="https://whoreportstoday.com/t/adm/q2-2026/sankey.png" alt="ADM Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/adm/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/adm/q2-2026">ADM Q2 2026 earnings chart (Who Reports Today)</a>
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- Gross margin was 8.5% vs 6.5% a year earlier.
- Operating income was $896M, a 4.0% margin vs 1.5% a year earlier.
- The effective tax rate was 16.2% vs 22.2% a year earlier.
- Diluted EPS was $1.87 vs $0.45 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
ADM — an agricultural processor that buys crops from farmers, stores and ships them, and turns oilseeds, corn and other raw materials into food and feed ingredients, vegetable oils, sweeteners, starches and biofuels.
It reports three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition (human and animal nutrition ingredients). · Source: annual report (Form 10-K, SEC)
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