Global agribusiness giant ADM reported a dip in earnings due to lower crushing margins and reduced insurance proceeds in its full-year 2025 results ending on 31 December.
Announcing its 2025 results on 3 February, ADM said its outlook for 2026 was underpinned by an increasingly constructive operating environment as global trade policies evolved and US biofuel policy clarity progressed.
Net earnings of US$1.08bn were down from US$1.80bn the previous year. Revenues fell from US$85.53bn to US$80.27bn.
“2025 was marked by a dynamic global trade landscape, and ongoing uncertainty around US biofuel policy created a challenging operating environment for ADM. Despite these external headwinds, … we delivered meaningful progress in the areas within our control,” said Juan Luciano, ADM president and CEO.
“Increased clarity on biofuel policy combined with the evolution of global trade should support a more constructive operating environment for us in 2026.”
In the company’s Ag Services and Oilseeds segment, operating profit in 2025 declined from US$2.45bn the previous year to US$1.61bn.
Within the AG Services sub-segment, operating profit declined by 11% from US$715M to US$636M, driven primarily by lower North American soyabean exports and challenged international trade flows.
Operating profit in the Crushing sub-segment fell 81% from US$844M to US$159M, primarily due to lower crushing margins.
Lower insurance proceeds had also contributed to the decrease, ADM said. In 2024, the company received approximately US$76M of insurance proceeds related to Decatur East and West claims in Illinois, while it received US$32M related to the Decatur East claim in 2025.
Operating profit in the Refined Products and Other sub-segment declined 4% from US$552M to US$529M due to lower refining margins.
In ADM’s Nutrition segment, operating profit increased by 8% from US$386M to US$417M.
In the Human Nutrition sub-segment, operating profit dropped by 2% from US$327M to US$319M. Flavours and a recovery in Specialty Ingredients boosted operating profit, which had been offset by a reduction in insurance proceeds, ADM said.
