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Archer-Daniels-Midland (ADM) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Archer-Daniels-Midland (ADM) Q3 2026 earnings results →

Q3 2026 Revenue up 10% year over year to $22.3B · 4¢ of every $1 of revenue kept as net profit · operating margin 4.5%

Archer-Daniels-Midland made $22.3B in Q3 2026 (+10% Y/Y). Operating margin 4.5%, net earnings $826M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$22.3B
Year over year+10%
Operating margin4.5%
Net earnings$826M
Operating cash flow$489M

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Archer-Daniels-Midland Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Archer-Daniels-Midland Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $22.3B in Q3 2026, up 10% year over year and down 2% from the previous quarter.

Gross margin was 8.4%, up 2.2 points from Q3 2025. Operating profit was $1.0B, a 4.5% margin (up 3.7 points year over year). Of the extra revenue versus Q3 2025, 43% reached operating profit, above the 1% margin then. Operating expenses fell 21% while revenue rose 10%. Net earnings were $0.82B, up 660% year over year. The effective tax rate was 17.2%.

Operating cash flow was $0.49B (down 73% year over year), 59% of net earnings. Non-cash charges added back $0.29B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.67B. Capital expenditures of $0.31B left free cash flow of $0.18B.

Quarterly history

Archer-Daniels-Midland revenue by quarterArcher-Daniels-Midland revenue by quarter$20.2BQ1 2025$21.2BQ2 2025$20.4BQ3 2025$18.6BQ4 2025$20.5BQ1 2026$22.7BQ2 2026$22.3BQ3 2026
Archer-Daniels-Midland net earnings by quarterArcher-Daniels-Midland net earnings by quarter$292MQ1 2025$217MQ2 2025$110MQ3 2025$454MQ4 2025$303MQ1 2026$912MQ2 2026$826MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$22.3B+10%4.5%$826M$489M
Q2 202610-QAug 4, 2026$22.7B+7%4.8%$912M$1.1B
Q1 202610-QMay 5, 2026$20.5B+2%1.9%$303M$150M
Q4 202510-KFeb 17, 2026$18.6B-14%2.6%$454M−$313M
Q3 202510-QNov 4, 2025$20.4B+2%0.7%$110M$1.8B
Q2 202510-QAug 5, 2025$21.2B-5%1.3%$217M$4.3B
Q1 202510-QMay 6, 2025$20.2B-8%1.7%$292M−$342M

Charts

Archer-Daniels-Midland: revenue growth, year over year and quarter over quarterArcher-Daniels-Midland: revenue growth, year over year and quarter over quarterY/YQ/Q-8%Q1 2025-5%+5%Q2 2025+2%-4%Q3 2025-14%-9%Q4 2025+2%+10%Q1 2026+7%+11%Q2 2026+10%-2%Q3 2026
Latest (Q3 2026): Y/Y +10%, Q/Q -2%.
Archer-Daniels-Midland: where the cash came from (+) and went (−), TTM to Q3 2026Archer-Daniels-Midland: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$1.9BOperating cash flow$1.5BCapital spending−$1.1BNet borrowing (+) / repaid (−)−$1.0BDividends−$1.0BBuybacks−$358MCash drawn (+) / kept (−)$135MOther investing$57.0MExchange rates−$16.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Archer-Daniels-Midland: profit against cash, quarter by quarterArcher-Daniels-Midland: profit against cash, quarter by quarterNet incomeOperating cash flow$561M$322MQ4 2024$292M−$342MQ1 2025$217M$4.3BQ2 2025$110M$1.8BQ3 2025$454M−$313MQ4 2025$303M$150MQ1 2026$912M$1.1BQ2 2026$826M$489MQ3 2026
Latest (Q3 2026): Net income $826M, Operating cash flow $489M.
Archer-Daniels-Midland: diluted shares by fiscal yearArcher-Daniels-Midland: diluted shares by fiscal year565MFY2020566MFY2021563MFY2022542MFY2023493MFY2024484MFY2025
-14.3% since FY2020: buybacks shrank the count.
Archer-Daniels-Midland: long-term debt falling due (FY2025)Archer-Daniels-Midland: long-term debt falling due (FY2025)$1.0B2026$266M2027$145M2029$1.0B2030$5.4BLater
Cash $1.0B, short-term investments —, long-term debt $7.6B at 2025-12-31.
Archer-Daniels-Midland in its industry: growth against margin (4 companies, SIC 2070)Archer-Daniels-Midland in its industry: growth against margin (4 companies, SIC 2070)revenue growth, year over year →↑ operating marginmedian +14%median 10%BGDARSDSYAADM (+10%, 4%)
Fats & Oils; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Archer-Daniels-Midland

ADM unlocks the power of nature to enrich the quality of life. We’re an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We’re a premier human and animal nutrition provider, offering one of the industry’s broadest portfolios of ingredients and solutions from nature. We’re a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We’re a cutting-edge innovator, guiding the way to a future of new bio-based consumer and industrial solutions. And we're leading in business-driven sustainability efforts that support a strong agricultural sector, resilient supply chains, and a vast and growing bioeconomy. Around the globe, our expertise and innovation are meeting critical needs from harvest to home.

In its own words, from its 8-K, filed Aug 4, 2026.

Archer-Daniels-Midland against its Fats & Oils peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +14%. Operating margin: 4.5% against the peers' median 10.4%.

CompanyQuarterRevenueY/YOp. margin
ADM Archer-Daniels-MidlandQ3 2026$22.3B+10%4.5%
BG Bunge Global SAQ3 2026$23.8B+7%2.2%
DAR Darling IngredientsQ3 2026$1.8B+14%18.6%
SDSYA South Dakota Soybean Processors LLCQ2 2026$327M+196%10.4%

Source: Archer-Daniels-Midland 10-Q on SEC EDGAR · CIK 7084 · Fats & Oils

Guidance and outlook

Archer-Daniels-Midland: what its forward-looking statements are about (10-Q filed 2026-11-03)Archer-Daniels-Midland: what its forward-looking statements are about (10-Q filed 2026-11-03)Costs5Buybacks & dividends1Other1
7 statements; tone -0.29 (−1 all cautious, +1 all confident); 0 hedged.
Archer-Daniels-Midland: outlook statements against the filing beforeArcher-Daniels-Midland: outlook statements against the filing beforeNew1Updated2Confident1Cautious3

13F: who owns ADM and who is buying

Largest holders of ADM (13F)Largest holders of ADM (13F)State Farm Mutual Automobile Insu…$3.6BBlackRock$3.4BVanguard Group$3.4BState Street$2.6BVanguard Capital Management LLC$2.4BVanguard Portfolio Management LLC$2.1BWellington Management Group LLP$1.4BCharles Schwab Investment Managem…$1.3BDodge & COX$1.1BGeode Capital Management, LLC$1.0B
Funds' net buying of ADM by quarter (13F)Funds' net buying of ADM by quarter (13F)$97.1M2024-09$14.6M2024-12$429M2025-03$173M2025-06$535M2025-09$407M2025-12−$628M2026-03$777M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ADM

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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