ADM · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

Archer-Daniels-Midland Co · 2026-11-03 · Importance 43 · Surprise 32 · In source text

For the nine months ended September 30, 2026, total revenue increased $3.8 billion, or 6.1%, to $65.5 billion from $61.7 billion. Ag Services and Oilseeds revenue rose $3.8 billion to $51.4 billion, led by increases in Refined Products and Other of $1.6 billion and Crushing of $1.2 billion; higher sales prices contributed $5.0 billion, partly offset by $1.2 billion of lower sales volumes. Carbohydrate Solutions revenue increased $158 million to $8.3 billion, while Nutrition revenue declined $182 million to $5.5 billion, including a $260 million volume decline reflecting portfolio actions and the Akralos joint venture, partly offset by $135 million of foreign-exchange gains. In the third quarter, revenue rose $2.0 billion to $22.3 billion, with Ag Services and Oilseeds up $1.8 billion and Nutrition down $79 million.

Key facts

• Higher sales prices of $2.0 billion and lower sales volumes of $189 million drove the increase in Ag Services and Oilseeds revenues in the third quarter of 2026; higher prices were primarily driven by oils, soybeans, and biodiesel. source
• Nine-month 2026 Ag Services and Oilseeds revenue reflected $5.0 billion of higher sales prices, mainly for oils, soybeans, and biodiesel, and $1.2 billion of lower sales volumes, mainly for soybeans and corn. source
• Nine-month 2026 Nutrition revenue decreased due to $260 million of lower sales volumes reflecting portfolio actions and the Akralos joint venture, partially offset by $135 million of foreign exchange gains; the prior year also benefited from a $55 million contract cancellation. source
• The U.S. Customs and Border Protection launched a tariff refund process in April 2026, and ADM is receiving refunds on an ongoing basis. source
• Third-quarter 2026 Carbohydrate Solutions revenue increased due to higher sales prices of $126 million and higher volumes of $78 million. source
• Nine-month 2026 Carbohydrate Solutions revenue increased due to $223 million of higher sales prices, partially offset by $65 million of lower sales volumes. source
• Third-quarter 2026 Nutrition revenue decreased primarily due to lower sales volumes of $58 million and lower sales prices. source
• ADM does not expect tariff-related risks to significantly affect its financial position, results of operations, or cash flows, based on information currently available. source

Impact estimates