Archer-Daniels-Midland Co

Company facts

Industry

Fats & Oils

Headquarters

Chicago, Illinois

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

Delaware

Filings on record

1,002+ filings

On EDGAR

CIK 7084

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 2 positive, 10 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Financial statements show a massive earnings swing; notes carry litigation, debt, and tax details.
  Notable

  • Wilmar investment carrying value $4.2B vs. market value $4.0B; no impairment taken but risk flagged.
  • Company issued $1.0B in new senior notes and redeemed $1.0B in maturing notes in Q3 2026.
  • Effective tax rate fell to 17.2% in Q3 2026 from 25.2% in Q3 2025, helped by Section 45Z tax credits.
  • Company repurchased 4.4M shares in nine months 2026, with 110M shares remaining under program through 2029.
  • Accounts receivable securitization programs sold $36.9B of receivables in nine months 2026, up from $33.5B.
  Negative

  • Securities fraud class action survived motion to dismiss on March 12, 2025; company cannot estimate loss.

• Management's Discussion (Item 2)

  MD&A with full financial results, segment profits, cash flows, and policy impacts.
  Positive

  • Earnings before income taxes jumped to $997M in Q3 2026 from $147M, a 6.8x increase.
  • Total segment operating profit rose 64% to $1.4B in Q3 2026 from $845M, led by Ag Services and Oilseeds.
  Notable

  • Company announced cost savings target of $500M-$750M over 3-5 years starting 2025, with restructuring charges of $5M in Q3 2026.
  • Share repurchases of $358M in 9M 2026; 110M shares remain authorized under program through Dec 2029.
  Negative

  • Operating cash flow fell to $1.8B in 9M 2026 from $5.8B, driven by $1.4B inventory outflow vs $3.2B inflow.
  • Purchase obligations rose to $17.9B at Sep 2026 from $13.8B at Dec 2025, a 30% increase.

• Other Information (Item 5)

  Three top insiders adopted 10b5-1 plans to sell shares, including the CEO.
  Notable

  • Chief Legal Officer Regina Jones adopted a plan to sell up to 17,148 shares, running through October 2027.
  • CEO Juan Luciano adopted a plan to sell up to 60,000 shares, running through March 2027.
  • Chief People Officer Jennifer Weber adopted a plan to sell up to 25,000 shares, running through September 2027.

What changed: Sep 2026 vs. Jun 2026

About 9% of ADM's Sep 2026 10-Q is new information. 35 paragraphs were added, 204 changed, and 61 removed. Below are the most important lines SECSift identified.

• Item 2 96
• Item 1 85
• Item 5 4
• Item 4 2
• Item 6 1