ADM · 8-K · 20260804PR000040

Operating Cash Flow Trends

Archer-Daniels-Midland Co · 2026-08-04 · Importance 63 · Surprise 64

Six-month net cash provided by operating activities declined to $1.299 billion from $3.956 billion, a 67% year-over-year decrease. The decline primarily reflected a $460 million use of operating assets and liabilities in 2026 versus a $2.723 billion source in 2025. Cash flow from operations before working capital increased to $1.8 billion from $1.2 billion, indicating stronger underlying earnings-based cash generation despite working-capital investment. Six-month net cash used in financing activities improved to $955 million from $1.579 billion, primarily because prior-year line-of-credit repayments were $1.057 billion versus $389 million in 2026.

Key facts

• ADM reported four-quarter EBITDA through June 30, 2026: $3,699 million source
• Adjusted EBITDA for the four quarters ended June 30, 2026: $4,203 million source
• Net cash provided by operating activities for the six months ended June 30, 2026: $1,299 million source
• Cash flows from operations before working capital year-to-date 2026: $1.8 billion (calculated as cash flows provided by operating activities of $1.3 billion adjusted for changes in working capital of $(460) million) source