Archer-Daniels-Midland (ADM) has announced its fourth-quarter and full-year 2025 financial results, alongside its 2026 guidance and a dividend increase. The company reported a challenging operating environment in 2025 due to dynamic global trade and uncertainty surrounding U.S. biofuel policy, yet demonstrated resilience and progress in key areas.
For the fourth quarter of 2025, ADM reported earnings before income taxes of $476 million, a decrease from the prior year. Adjusted EPS stood at $0.87, down 24% year-over-year. Full-year 2025 adjusted EPS was $3.43, a 28% decrease from 2024.
The Ag Services & Oilseeds (AS&O) segment saw a 31% decrease in operating profit for the fourth quarter, primarily due to weaker crush margins and lower soybean export activity. The Carbohydrate Solutions segment’s operating profit decreased by 6%, impacted by lower demand and higher corn costs, though ethanol margins showed strength.
The Nutrition segment experienced an 11% decrease in operating profit for the quarter, largely due to a reduction in insurance proceeds compared to the prior year. However, for the full year, the Nutrition segment reported an 8% increase in operating profit, driven by strong performance in Animal Nutrition.
ADM’s outlook for 2026 is underpinned by expectations of an increasingly constructive operating environment. The company anticipates year-over-year segment operating profit growth for AS&O, with potential for crush margin expansion and strengthening customer demand. Carbohydrate Solutions is expected to remain relatively flat, while Nutrition is projected to continue its trajectory of stronger organic growth.
CEO Juan Luciano highlighted the company’s resilience in 2025 despite external headwinds. He emphasized progress in portfolio optimization, cost-reduction actions, and plant efficiency. ADM remains on track to achieve significant cost savings over the next three to five years, beginning in 2025.
ADM’s Board of Directors declared a quarterly cash dividend of 52.0 cents per share, an increase from 51.0 cents. This marks the company’s 377th consecutive quarterly payment and its 53rd year of consecutive dividend growth, underscoring its commitment to returning value to shareholders.
As of December 31, 2025, ADM reported cash and cash equivalents of $1,015 million. The company maintained a stable financial position with total assets of $34.66 billion and shareholders’ equity of $22.74 billion.