Key Takeaways:
- Stable Q3 sales at $933M; volume up 1%, price down 1%
- Adjusted gross profit up 14% to $257M; margin rose to 27.6%
- Adjusted EBITDA up 50% to $120M; adjusted net loss narrowed to $20M
- Nine-month adjusted net income turned positive at $29M; adjusted EBITDA up 30% to $430M
- “Fight Forward” transformation and value-innovation mix cited as key drivers
ADAMA Financial Performance: Q3 Snapshot
ADAMA reported third-quarter 2025 sales of $933 million, flat year over year as 1% volume growth offset a 1% pricing decline. Adjusted gross profit rose 14% to $257 million, lifting the adjusted gross margin to 27.6% from 24.2%. Adjusted EBITDA increased 50% to $120 million (12.9% margin), while the adjusted net loss narrowed to $20 million from $78 million in Q3 2024. Reported net loss improved to $48 million from $133 million.
ADAMA Nine-Month Trends And Cash Flow
For the first nine months of 2025, ADAMA posted stable sales of $3.03 billion, with volumes up 3% and prices down 3%. Adjusted gross profit increased 12% to $878 million (29.0% margin), and adjusted EBITDA rose 30% to $430 million (14.2% margin). Adjusted net income turned positive at $29 million versus a $149 million loss a year ago. Operating cash flow was $331 million and free cash flow was $112 million.
Regional Performance And Product Mix
- Europe, Africa & Middle East: Q3 revenue increased, supported by volumes and FX; pricing remained competitive.
- North America: Gains year-to-date on higher volumes; Consumer & Professional Solutions saw increased volumes and flat pricing.
- Latin America: Brazil strengthened on volume (and modest Q3 price) gains; other LATAM markets faced destocking and just-in-time purchasing.
- Asia-Pacific: India declined on weather and pricing; China mixed—higher active-ingredient sales offset lower non-ag sales as the company pivots away from basic chemicals.
Product categories in Q3: Herbicides $369M (40%), Insecticides $311M (33%), Fungicides $187M (20%), Intermediates & Ingredients $67M (7%).
ADAMA Portfolio And Strategy Updates
ADAMA advanced its value-innovation portfolio, launching FERRABAIT molluscicide in New Zealand and COSAYR (chlorantraniliprole) in Canada, Hungary and Argentina, alongside multiple EU registrations (e.g., PORAFAM herbicide in Germany; AVASTEL and EDAPTIS in Germany; COSAYR in Austria, France, Spain, Greece). The company highlighted progress under the “Fight Forward” plan, aiming to optimize operations, improve mix, and sustain EBITDA growth.
Market Context And Outlook
Management cited normalized channel inventories in most regions and ongoing pricing pressure from global over-capacity in active ingredients, as well as tight farm profitability amid low commodity prices and higher rates. ADAMA noted continued execution on cost, efficiency, and portfolio initiatives, with expectations that tariff and geopolitical developments remain immaterial to operations based on actions taken to date.
ADAMA Ltd.
ADAMA Ltd. is a global leader in crop protection, serving farmers in over 100 countries. The company focuses on understanding farming as more than just a business, prioritizing listening, learning, and delivering solutions tailored to grower needs. Its portfolio includes differentiated, high-quality products supported by advanced R&D, manufacturing, and formulation facilities.
With approximately 8,000 employees worldwide, ADAMA transforms one of the largest collections of active ingredients into solutions for controlling weeds, insects, and diseases. By working closely with farmers and incorporating their insights, the company develops tools to help improve yields and support sustainable agriculture practices.
