Key Takeaways
- ADAMA reported Q1 2026 revenues of $1,037 million, up 4% year-over-year, driven by 3% volume growth and positive foreign exchange impacts, partially offset by a 4% price decline; on a constant exchange rate (CER) basis, revenue declined 1%, reflecting ongoing market pricing pressure from oversupply of active ingredients globally.
- Reported net profit surged 289% to $82 million from $21 million in Q1 2025; adjusted net profit rose 35% to $59 million from $44 million, with adjusted gross margin improving to 30.6% from 30.3%; adjusted EBITDA declined 6% to $150 million (14.5% of sales) as higher operating expenses offset gross profit gains.
- EAME led regional performance with sales up 14% to $406 million (+5% CER); North America grew 8% to $237 million (+8% CER); Latin America declined 2% to $144 million (-7% CER); Asia Pacific fell 10% to $249 million (-12% CER), with China down 19% to $134 million as ADAMA reduced low-margin basic chemical sales.
- During Q1 2026, ADAMA launched more than a dozen differentiated products across five regions, including ATEKA™ (USA), MARATHON® (Australia), FORABAZ® (India), BREVIS™ SC (Canada), and COSAYR® (Europe), alongside multiple Prothioconazole-based formulations leveraging the proprietary ASORBITAL® technology.
- ADAMA’s Neot Hovav manufacturing site in Israel sustained limited, localized damage from falling debris following missile interceptions in March and early April 2026; the site has largely returned to normal operations, with full restoration expected within weeks and the overall financial impact assessed as non-material.
ADAMA Posts 4% Revenue Growth in Q1 2026, Adjusted Net Profit Rises 35%
ADAMA reported Q1 2026 revenues of $1,037 million, a 4% increase from $1,000 million in Q1 2025, reflecting volume growth of 3% and positive foreign exchange impacts, partially offset by a 4% decline in realized prices. On a constant exchange rate basis, revenue declined 1%. Crop Protection revenues were $972 million (94% of total), up from $906 million in Q1 2025, while Intermediates and Ingredients revenue declined to $65 million from $94 million as the company reduced sales of low-margin basic chemicals.
“In the first quarter of 2026, ADAMA delivered sales and gross profit growth and higher net income, reflecting improved volumes and continued progress in portfolio quality. At the same time, profitability and cash generation in the quarter were affected by higher operating expenses and increased working capital, reflecting investments to support growth and inventory build up to capture recovering market momentum,” said Gaël Hili, President and CEO of ADAMA.
EAME and North America Lead Regional Performance; China Declines on Portfolio Optimization
EAME delivered the strongest regional growth, with Q1 2026 sales rising 14% to $406 million (+5% CER), driven by higher volumes across Europe on strong market positioning in off-patent products. North America grew 8% to $237 million (+8% CER), supported by new product launches including CAZADO™ and pre-seed presence, despite competitive pricing. Latin America declined 2% to $144 million (-7% CER), with Brazil volume gains largely offset by a major decline in market pricing. Asia Pacific fell 10% to $249 million (-12% CER), with China declining 19% to $134 million (-21% CER), reflecting the company’s deliberate reduction of basic chemical and low-margin product sales, partly offset by growth in branded formulations.
ADAMA Advances Fight Forward Strategy with New Product Launches Across Five Regions
ADAMA entered the next phase of its post-Fight Forward strategy in 2026, shifting from cost transformation to profitable top-line growth. During Q1 2026, the company launched multiple differentiated products: ATEKA™ (USA), a high-load Spirotetramat-based insecticide powered by Ayalon™ Formulation Technology; MARATHON® (Australia), a Pyrasulfotole-based herbicide for wheat and barley; FORABAZ® (India), a Chlorantraniliprole and Novaluron SC for caterpillar control; BREVIS™ SC (Canada), a Metamitron-based plant growth regulator for pome fruit thinning; and COSAYR® (EU), a Chlorantraniliprole suspension for chewing insect control in horticulture. The company also extended its Prothioconazole portfolio with MAGANIC®, MAXENTIS®, AVASTEL, and SORATEL® across EU markets using its ASORBITAL® formulation platform.
On the ESG front, ADAMA published its 2025 ESG Report on April 29, 2026, reporting a 21% reduction in Scope 1 and Scope 2 greenhouse gas emissions and the training of more than 680,000 farmers and agricultural workers on safe crop protection practices.
Geopolitical Risks: Neot Hovav Damage Assessed as Non-Material; Tariff Task Force Active
ADAMA’s Neot Hovav manufacturing site in Israel experienced limited, localized damage to a finished goods warehouse, ancillary equipment, and an open storage area following falling debris from missile interceptions in March and early April 2026. No injuries were reported, and safety-driven closures were followed by restoration activities. The site has largely returned to normal operations, with full restoration to optimal capacity expected within weeks. The company assessed the financial impact as non-material. Separately, ADAMA appointed a dedicated task force to monitor global tariff policy changes and currently expects the impact on operations to remain immaterial.
ADAMA Q1 2026 Financial Summary
The following table summarizes ADAMA’s key reported and adjusted financial metrics for Q1 2026 compared to Q1 2025, along with regional sales performance.
| Metric (USD millions) | Q1 2026 Reported | Q1 2025 Reported | Q1 2026 Adjusted | Q1 2025 Adjusted |
|---|---|---|---|---|
| Revenues | $1,037M (+4%) | $1,000M | $1,037M (+4%) | $1,000M |
| Gross Profit | $287M (27.7%) | $272M (27.2%) | $318M (30.6%) | $303M (30.3%) |
| EBIT | $110M (10.6%) | $70M (7.0%) | $88M (8.5%) | $96M (9.6%) |
| Net Profit | $82M (+289%) | $21M | $59M (+35%) | $44M |
| EBITDA | $182M (17.6%) | $144M (14.4%) | $150M (14.5%) | $160M (16.0%) |
| Operating Cash Flow | $(141)M | $(29)M | — | |
| Free Cash Flow | $(139)M | $(86)M | — | |
| Region | Q1 2026 ($M) | Q1 2025 ($M) | Change (USD) | Change (CER) |
|---|---|---|---|---|
| EAME | $406M | $356M | +14% | +5% |
| North America | $237M | $219M | +8% | +8% |
| Latin America | $144M | $147M | -2% | -7% |
| Asia Pacific | $249M | $278M | -10% | -12% |
| of which China | $134M | $166M | -19% | -21% |
| Total | $1,037M | $1,000M | +4% | -1% |
