ADM reported net earnings of $456 million in the fourth quarter, with adjusted net earnings of $422 million. GAAP EPS was $0.94, down 20% from $1.17 a year earlier, while adjusted EPS of $0.87 declined 24% from $1.14 in Q4 2024. Earnings before income taxes fell 29% year-over-year to $476 million, reflecting weaker industry conditions and specified items excluding a $254 million non-cash gain related to its Wilmar equity investment.

Total segment operating profit for Q4 was $821 million, a 22% decrease versus $1.05 billion in the prior year period. In Ag Services & Oilseeds, operating profit dropped 31% to $444 million due to lower North American soybean exports, weaker crush margins and negative mark-to-market impacts of $1 million compared to +$50 million last year. Carbohydrate Solutions profit declined 6% to $299 million, pressured by lower starch and sweetener volumes, while Nutrition segment profit fell 11% to $78 million despite continued organic growth initiatives.

For the year ended December 31, ADM delivered net earnings of $1.1 billion and adjusted net earnings of $1.7 billion. GAAP EPS of $2.23 was down 39% from 2024, with adjusted EPS of $3.43 down 28%. Total segment operating profit declined 23% to $3.24 billion. Cash flows provided by operating activities reached $5.5 billion, with cash flow before working capital of $2.7 billion, supporting capital expenditures of $1.3 billion and sustaining the highest injury-free safety record on file.

ADM projects 2026 adjusted EPS between $3.60 and $4.25, with the lower end assuming continued biofuel policy deferral and flat crush margins, and the upper end reflecting margin expansion, manufacturing efficiencies and stronger demand. The company plans $1.3–$1.5 billion in capital spending and targets $500–$750 million of cost savings over three to five years starting in 2025. Based on robust cash flow, ADM announced a 2% increase in its quarterly dividend, marking 53 consecutive years of dividend growth.