Key Takeaways
- ADM reported Q1 2025 net earnings of $295 million and adjusted net earnings of $338 million.
- Adjusted earnings per share (EPS) of $0.70 declined 52% year-over-year.
- Segment operating profit totaled $747 million, down 38% from Q1 2024.
- Nutrition segment operating profit increased by 13%, while Ag Services & Oilseeds fell by 52%.
- ADM reaffirmed its 2025 full-year guidance but expects results at the lower end of the range.
ADM posts lower earnings amid challenging external environment
ADM (Profile) reported its financial results for the first quarter ended March 31, 2025. The company posted net earnings of $295 million and adjusted net earnings of $338 million. Earnings per share (EPS) on a GAAP basis stood at $0.61, with adjusted EPS at $0.70, both reflecting significant declines compared to the prior year quarter.
Chair of the Board and CEO Juan Luciano stated, “ADM delivered results aligned with our outlook and the market expectations for the first quarter. In a challenging and uncertain external environment, we advanced multiple aspects of our self-help agenda, including delivering operational improvements in North America, driving cost savings through targeted operational and organizational realignments, and continuing our disciplined approach to capital allocation.”
ADM segment performance reflects mixed results across businesses
During Q1 2025, ADM reported total segment operating profit of $747 million, a decrease of 38% year-over-year.
Performance Summary
| Segment | Q1 2025 Operating Profit ($M) | Q1 2024 Operating Profit ($M) | % Change |
|---|---|---|---|
| Total Segment Profit | 747 | 1,196 | -38% |
| Ag Services & Oilseeds | 412 | 864 | -52% |
| – Ag Services | 159 | 232 | -31% |
| – Crushing | 47 | 313 | -85% |
| – Refined Products/Other | 134 | 170 | -21% |
| – Wilmar Equity Earnings | 72 | 149 | -52% |
| Carbohydrate Solutions | 240 | 248 | -3% |
| – Starches & Sweeteners | 207 | 261 | -21% |
| – Vantage Corn Processors | 33 | (13) | NM |
| Nutrition | 95 | 84 | +13% |
| – Human Nutrition | 75 | 76 | -1% |
| – Animal Nutrition | 20 | 8 | +150% |
Outlook for ADM in 2025
Despite the first-quarter declines, ADM reaffirmed its full-year 2025 adjusted EPS guidance in the range of $4.00 to $4.75 but now expects results at the lower end of that range, citing persistent market headwinds.
Luciano concluded, “Looking forward, the focused execution of our team will be foundational to navigating market uncertainty. Based on our self-help agenda and execution agility, we are reaffirming our full-year guidance for 2025, but expect to deliver at the lower end of the range, given current market conditions.”
Read the complete financial results here.
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