ADM

Download the Complete Report Here Key Takeaways: Record second-quarter earnings reflected materially stronger core ethanol economics alongside a larger 45Z contribution. REX reported 2Q FY26 net sales and revenue of $168.5 million, up 6.3% from $158.6 million in 2Q FY25, while gross profit increased to $53.3 million from $14.3 million and gross margin expanded to 31.6% from 9.0%. 45Z production tax credit income contributed $18.4 million during the quarter, while core profitability also improved sharply, with gross profit excluding 45Z at approximately $34.9 million, up roughly 144% y/y. Income before taxes increased to $48.1 million from $12.1 million, and net income attributable to REX shareholders reached $34.9 million versus $7.1 million. Diluted EPS increased to $1.06 from $0.22, marking the strongest fiscal second quarter in company history and extending REX’s profitability streak to 24 consecutive quarters. Improved crush margins were the principal operating driver, with stronger ethanol and co-product pricing broadening the earnings improvement. Consolidated ethanol sales were 70.6 million gallons, consistent with 70.6 million gallons in the prior-year quarter, while realized ethanol pricing net of hedging increased to $1.78 per gallon from $1.75. Ethanol revenue reached approximately $125.8 million, representing 74.7% of quarterly revenue. Dried distillers grain ASP increased 16% to $166.55 per ton from $143.63, with volume of 145,081 tons versus 148,017 tons, generating approximately $24.2 million of revenue. Distillers corn oil provided another meaningful margin contribution, with volume increasing to 24.3 million pounds from 23.1 million and ASP rising 33% to $0.72 per pound from $0.54, resulting in approximately $17.6 million of revenue. Modified distillers grains contributed another $0.8 million at an ASP of $65.10 per ton. The improvement across ethanol, DDG and corn oil is consistent with a stronger crush environment and reinforces the earnings contribution from product mix as REX prepares to add incremental One Earth capacity. 45Z has become a material and increasingly visible earnings layer, with the quarterly contribution more than doubling sequentially. REX recognized $18.4 million of 45Z production tax credit income in 2Q, up from $7.5 million in 1Q, bringing 1H FY26 credits to approximately $26.0 million, net of estimated monetization expenses. REX currently intends to sell the transferable 45Z credits earned in FY26, compared with using FY25 credits to offset taxes due. Including $31.7 million recognized in FY25, cumulative 45Z benefits from consolidated facilities have reached approximately $57.7 million, including minority interests. The 2Q credit represented approximately 34.5% of reported gross profit of $53.3 million, while the first-half contribution represented approximately 31.5% of gross profit of $82.4 million. Because 45Z is recorded within gross profit rather than revenue, its growing contribution is making reported margins structurally less comparable with prior periods and should scale further as One Earth adds production volumes eligible for the credit. CCS creates a second economic layer through 45Q and potentially higher 45Z economics. Under the current framework, 45Z credits can be earned in $0.10 per gallon increments from $0.10 to $1.00 per gallon based on carbon intensity, with the first $0.10 available below a CI score of 47.5 and the program currently extending through calendar 2029. The 45Q framework provides an $85 per ton credit for qualifying sequestered carbon for 12 years following project commencement, with direct pay available during the first five years, and REX estimates potential annual 45Q benefits of approximately $36 million. During the 2025 to 2029 overlap period, REX can elect the economically more attractive program, providing flexibility to optimize credit economics as CCS lowers carbon intensity and final 45Z rules become clearer. One Earth remains the principal organic volume growth driver, with a phased path from approximately 150 million to 200 million gallons of annual capacity. The facility currently produces approximately 150 million gallons annually, with construction for the next capacity step progressing on schedule and additional production expected to come online before the end of 2026. The first operating milestone is approximately 175 million gallons, a roughly 17% increase from the current level. Following that step, additional EPA and Illinois EPA approvals are required before production can move toward approximately 200 million gallons, with production expected to approach that level around early to mid-2027. Reaching 200 million gallons would represent approximately 33% growth from the current One Earth base and would expand ethanol, co-product and eligible 45Z production while leveraging REX’s existing Corn Belt infrastructure and market access. Draft Class VI permits represent the most significant CCS regulatory milestone to date and materially reduce federal permitting uncertainty around the One Earth project. On August 17, the EPA issued draft Class VI permits for three injection wells with combined storage capacity of approximately 90 million tons, with the September presentation projecting final EPA permits in November 2026. Construction of the carbon capture and compression facility is substantially complete, with facility testing remaining. Cumulative investment in the ethanol expansion and CCS projects reached approximately $191.2 million at 2Q FY26-end, up from $176.3 million at 1Q-end and approximately $166 million at FY25-end. With the federal process materially advanced, the remaining project sequence centers on the approximately 5-mile connector pipeline, Illinois EPA approvals and local zoning requirements, with the pipeline approval appearing to be the principal milestone. Excess storage capacity creates meaningful third-party sequestration optionality and expands One Earth’s longer-term low-carbon fuel positioning. The project is designed to sequester approximately 560,000 tons of CO2 annually from One Earth following the expansion, compared with approximately 90 million tons of total storage capacity across the three wells. REX has secured consent from 100% of landowners for the pipeline route associated with Wells 1 and 2 and sufficient subsurface easements for Well 1 to sequester all One Earth emissions for approximately 15 years. The substantial excess capacity creates a potential fee-generating opportunity from third-party emitters, while lower-carbon ethanol could also support additional demand from sustainable aviation fuel markets. These opportunities remain longer-term, with REX currently focused on completing and permitting its own CCS project before pursuing third-party sequestration. Export growth and California E15 broaden the demand backdrop as One Earth prepares to add production capacity. U.S. ethanol exports increased approximately 13% during the first six months of 2026, with continued record export demand supporting industry fundamentals entering 3Q. California’s approval of E15 creates another meaningful demand channel, with management citing approximately 695 million gallons of potential consumption. Recent RIN exemption developments could pressure RIN economics, although management does not expect a major impact on ethanol sales given that the exemptions span both D4 and D6 credits and export demand remains strong. Together, sustained export growth and broader E15 adoption improve the industry’s ability to absorb incremental production as REX moves first toward 175 million gallons and subsequently approximately 200 million gallons at One Earth. Higher incentive compensation absorbed some operating leverage, while unconsolidated affiliates provided a materially larger earnings contribution. SG&A increased to $15.6 million from $6.2 million y/y, primarily reflecting higher incentive compensation tied to stronger results and restricted stock awards issued during the quarter. Equity in income of unconsolidated affiliates increased to $7.2 million from $0.9 million, benefiting from stronger industry conditions and production tax credit contributions at REX’s non-consolidated facilities. Interest and other income was broadly stable at $3.2 million versus $3.1 million y/y, reinforcing that the earnings improvement was primarily driven by operating performance, 45Z and stronger affiliate profitability. Liquidity and working capital strengthened despite higher project spending, reinforcing REX’s ability to fund One Earth and CCS internally. REX ended 2Q with $379.5 million of cash, cash equivalents and short-term investments, up from $364.3 million at the end of 1Q and $310.5 million a year earlier, while continuing to carry no bank debt. Working capital increased to $391.5 million from $376.2 million sequentially and $353.4 million y/y. First-half operating cash flow increased to $38.0 million from $12.8 million, while capital expenditures rose to $35.0 million from $28.9 million. REX currently expects to spend another $20 million to $30 million across its projects during the remainder of FY26, with all expenditures funded from available cash. The balance sheet therefore continued to strengthen even as cumulative One Earth and CCS spending reached $191.2 million, preserving flexibility for additional capital deployment as the projects move toward completion. Working-capital movements remained manageable, with higher receivables and prepaid assets offset by stable inventory and stronger cash generation. Accounts receivable increased to $23.5 million at July 31 from $14.7 million at FY25-end, while inventory was broadly stable at $29.0 million versus $28.4 million and accounts payable declined to $36.7 million from $38.4 million. During the first half, accounts receivable represented an $8.8 million use of operating cash and prepaid and other assets represented a $27.3 million use, while inventory absorbed only $0.6 million. Despite those uses, cash flow from operations increased nearly threefold to $38.0 million from $12.8 million, reflecting materially stronger earnings despite working-capital outflows. Capital allocation remains focused on completing organic growth projects, while repurchases and selective M&A retain strategic relevance. REX acquired approximately $1.6 million of treasury stock during 1H FY26 versus $33.4 million in the prior-year period, while first-half capital expenditures were $35.0 million and cumulative One Earth and CCS investment reached $191.2 million. Share repurchases have historically been a preferred method of distributing capital, and REX continues to evaluate acquisitions of ethanol plants and businesses in adjacent industries. With $379.5 million of cash and short-term investments, no bank debt and the major One Earth and CCS investments moving toward completion, the balance between additional organic investment, repurchases and selective acquisitions should become increasingly important to the equity story. Outlook remains constructive, with 3Q results expected to exceed the prior-year period as 45Z, exports and stronger core ethanol economics support the second-half setup. At this early stage of 3Q FY26, REX expects to remain profitable and anticipates results above the prior-year period, when diluted EPS was $0.71 on revenue of $175.6 million. First-half FY26 EPS reached $1.62 versus $0.47 y/y, while 45Z benefits totaled approximately $26.0 million and export demand remained strong. The One Earth expansion remains on track for construction completion by the end of 2026, with production expected to step toward approximately 175 million gallons, while the three draft Class VI permits represent another important step in advancing CCS. The medium-term setup remains tied to sustained crush economics, continued 45Z monetization, the One Earth ramp toward 175 million gallons followed by permitting toward approximately 200 million gallons, and completion of the remaining CCS approvals. Disclaimer: Exec Edge does not publish proprietary estimates, ratings, price targets, or investment recommendations. The valuation discussion below is illustrative only and is based on company filings, management commentary, and third-party data and estimates. It does not constitute a recommendation, price target, rating, or prediction of future pricing. Valuation remains reasonable following the step-up in earnings and improving visibility across One Earth, 45Z and CCS. At the September 3 close of $41.62, REX has a market capitalization of approximately $1.38 billion and enterprise value of ~$1.1 billion, and trades at 11.4x LTM EPS of $3.65, down from 16.6x at the end of the prior quarter and well below its three-year peak of 27.9x. We apply a 16x illustrative P/E multiple, representing an approximately 23% premium to the current profitable peer average of 13.0x, but still roughly 43% below REX’s three-year peak. We believe this modest premium to peers is supported by REX’s 24 consecutive profitable quarters, $379.5 million of liquidity, no bank debt, growing 45Z contribution, approaching One Earth capacity ramp and advancing CCS development, while the substantial discount to history appropriately reflects continued commodity, policy and permitting risk. Applying 16x to LTM EPS implies an illustrative value of approximately $58.4 per share. We note that cash, cash equivalents and short-term investments of $379.5 million equate to approximately $11.47 per share, or ~28% of the current share price, with REX continuing to carry no bank debt. Peer valuation provides a secondary cross-check, with REX trading below the profitable-peer average while maintaining substantial balance-sheet flexibility. GPRE trades at 8.9x LTM earnings, ALTO at 6.1x, ADM at 23.1x and VLO at 15.5x. The peer average is approximately 13.0x, placing REX’s 11.4x multiple at roughly a 12% discount. The discount remains notable given REX’s 24 consecutive profitable quarters, strong balance sheet and improving visibility across 45Z, One Earth and CCS. Further re-rating increasingly depends on execution across a visible set of catalysts. 45Z has already contributed approximately $26.0 million in 1H FY26, so the next drivers are whether those economics remain durable and improve as carbon intensity declines. Milestones include sustained core crush profitability and 45Z contribution, commissioning of One Earth toward approximately 175 million gallons and progression toward 200 million gallons, conversion of the draft Class VI permits into final approvals, advancement of the Illinois pipeline and environmental permitting processes, and disciplined deployment of $379.5 million of liquidity through organic growth, repurchases or selective acquisitions. Continued delivery across these areas would improve visibility into the durability and scale of REX’s earnings base as its low-carbon growth investments move closer to commercial operation. Read Exec Edge’s Initiation on REX Here Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected] The post REX’s Record 2Q EPS, CCS Project Advances – Quarterly Update Report appeared first on ExecEdge.

A month has gone by since the last earnings report for Archer Daniels Midland (ADM). Shares have added about 10.1% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is ADM due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Archer Daniels posted second-quarter 2026 adjusted earnings of $1.84 per share, up 98% year over year. The figure surpassed the Zacks Consensus Estimate of $1.42 by 29.6%. On a reported basis, earnings were $1.87 per share, substantially up from 45 cents in the year-ago quarter.Revenues increased 7.1% to $22.68 billion and beat the consensus estimate of $22.38 billion. Results benefited from margin expansion in Ag Services and North American crushing and robust ethanol economics.  Global oilseed volumes increased roughly 5% compared with the prior-year quarter.Total segment operating profit increased 75% year over year to $1.5 billion, reflecting broad-based growth across all three operating segments. Ag Services and Oilseeds revenues increased 10.1% year over year to $17.9 billion. Carbohydrate Solutions revenues declined 1.3% to $2.8 billion, while Nutrition revenues fell 4.6% to $1.9 billion. Other Business revenues decreased 5.4% to $106 million. The Zacks Consensus Estimate for revenues is pegged at $17.5 billion for Ag Services and Oilseeds, $2.9 billion for Carbohydrate Solutions and $2 billion for Nutrition.The company processed 9.5 million metric tons of oilseeds, up 4.7% from the prior-year quarter and surpassed the Zacks Consensus Estimate of 9.3 million metric tons. Corn processing volumes rose 2.6% to 4.7 million metric tons. Higher asset utilization supported the improvement in global oilseed volumes. Ag Services and Oilseeds operating profit surged 129% to $867 million. Results included roughly $100 million of net positive mark-to-market and timing impacts, mainly within Crushing. Margin expansion in Ag Services and North American crushing provided the primary lift.Ag Services operating profit climbed 159% to $293 million as ADM leveraged its global asset network and benefited from increased soybean exports and the return of its Barcarena, Brazil, terminal to full operations. Crushing profit substantially jumped to $363 million from $33 million, supported by stronger biofuel margins, elevated energy prices and record meal exports from Brazil and the United States. Carbohydrate Solutions operating profit increased 22% year over year to $411 million. Robust North American ethanol margins, policy incentives, elevated energy prices and lower U.S. corn prices improved ethanol’s economics relative to competing blendstocks. These conditions supported higher domestic blend rates and favorable industry exports.Starches and Sweeteners operating profit rose 7% year over year to $326 million as stronger wet-milling ethanol margins offset lower liquid sweetener volumes and margins. Vantage Corn Processors’ profit increased 158% year over year to $85 million, aided by strengthening dry-milling ethanol margins and effective risk management. Nutrition operating profit advanced 51% year over year to $172 million, with improvement across Human Nutrition and Animal Nutrition. Human Nutrition operating profit increased 51% to $139 million, driven by Flavors growth, seasonal momentum and continued progress at the Decatur East plant.Animal Nutrition operating profit grew 50% to $33 million. The increase reflected operational improvements and benefits from portfolio actions completed during 2025. The segment’s performance extended ADM’s recovery beyond its commodity-processing businesses. The company ended the quarter with cash and cash equivalents of $1.1 billion, long-term debt, including current maturities, of $7.6 billion, and shareholders’ equity of $23.6 billion. As of June 30, 2026, ADM generated $1.3 billion in cash from operating activities. It paid dividends of $510 million in the reported quarter. ADM raised its 2026 adjusted earnings guidance to approximately $5.15-$5.60 per share from the previous range of $4.15-$4.70. The revised outlook assumes year-over-year improvement in crushing and ethanol, supported by disciplined execution and a constructive margin environment.Management tied the stronger outlook primarily to finalized renewable volume obligations under the U.S. Renewable Fuel Standard, global trade dynamics and higher energy prices. The company continues to project 2026 capital expenditures of $1.3-$1.5 billion while monitoring macroeconomic, geopolitical, policy and trade conditions. In the past month, investors have witnessed a upward trend in estimates revision. The consensus estimate has shifted 14.23% due to these changes. Currently, ADM has a subpar Growth Score of D, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise ADM has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months. ADM belongs to the Zacks Agriculture - Operations industry. Another stock from the same industry, Corteva, Inc. (CTVA), has gained 14.4% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Corteva, Inc. reported revenues of $6.38 billion in the last reported quarter, representing a year-over-year change of -1.2%. EPS of $2.30 for the same period compares with $2.20 a year ago. Corteva, Inc. is expected to post a loss of $0.42 per share for the current quarter, representing a year-over-year change of -82.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Corteva, Inc.. Also, the stock has a VGM Score of F. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report Corteva, Inc. (CTVA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Archer Daniels Midland (ADM) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this agribusiness giant, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Archer Daniels Midland, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: For the current quarter, the company is expected to earn $1.53 per share, which is a change of +66.3% from the year-ago reported number. Over the last 30 days, the Zacks Consensus Estimate for ADM has increased 14.23% because two estimates have moved higher compared to no negative revisions. The company is expected to earn $5.22 per share for the full year, which represents a change of +52.2% from the prior-year number. In terms of estimate revisions, the trend for the current year also appears quite encouraging for ADM. Over the past month, three estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 14.78%. Thanks to promising estimate revisions, ADM currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. ADM shares have added 5.9% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Archer-Daniels-Midland stock has delivered a solid 51.3% return over the past 5 years, yet its current valuation picture is mixed as the Discounted Cash Flow (DCF) intrinsic value estimate points to upside while earnings based multiples lean the other way. Recent share price softness sits alongside that split view, which leaves investors weighing how much of ADM's recent progress is already reflected in the price. Over 5 years, ADM has returned 51.3%, which signals that long term holders have seen meaningful gains even though shorter term returns have been weaker. The planned expansion of ADM's oilseed crushing and corn receiving capacity can support future cash flow, while the sizable capital spend introduces execution and return on investment risk for shareholders. With a value score of 3 out of 6, Archer-Daniels-Midland shows a mixed picture rather than a clear bargain or clear overvaluation on the broader checks. The stock's next move may depend on whether ADM's cash generation ultimately tracks closer to the DCF based intrinsic value estimate or to the more conservative message coming from current market multiples. Compare Archer-Daniels-Midland's mixed valuation signals with other companies that combine cash flow strength and balance sheet support through our curated list of 46 high quality undervalued stocks. The Discounted Cash Flow (DCF) model values Archer-Daniels-Midland by projecting the cash it can return to shareholders and discounting those flows back to today. On this view, ADM's latest twelve month free cash flow is about $1.4b, and the model assumes gradually growing cash flows rather than rapid expansion or decline. That supports an estimated intrinsic value of about $122 per share in $. Set against the current share price, this DCF output implies the stock is around 35.2% undervalued. ADM's planned investments in oilseed crushing and corn capacity help explain why the cash flow outlook used in the model runs into the longer term. However, the actual returns on that spending will only become clear over time. Despite a solid recent Q2 earnings beat on revenue and margins, the share price has stayed more muted, which leaves the DCF pointing to a wider gap between price and estimated value. On the DCF numbers, Archer-Daniels-Midland stock currently screens as undervalued relative to its projected cash generation. Our Discounted Cash Flow (DCF) analysis suggests Archer-Daniels-Midland is undervalued by 35.2%. Track this in your watchlist or portfolio, or discover 46 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Archer-Daniels-Midland. The P/E ratio suits Archer-Daniels-Midland because earnings remain a core yardstick for investors in established food companies. ADM currently trades on a P/E of 21.5x, compared with an industry average of 17.9x and a peer group average of about 23.0x. That places the stock slightly below immediate peers but still above the broader Food industry. The fair P/E ratio implied by the broader checks is 18.4x. This is lower than ADM's current 21.5x, which suggests the stock is pricing in more optimism than the model supports once factors like margins, business mix and risk are taken into account. The gap is not extreme, yet it does point to some valuation pressure if earnings do not keep pace with expectations. On the P/E multiple, Archer-Daniels-Midland stock screens as comparatively expensive relative to the level that would look more balanced against its fundamentals. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where Archer-Daniels-Midland's valuation puzzle leaves off by spelling out which assumptions about future growth, margins and earnings would need to hold for the stock to be worth materially more or less than today's price, and they sit on Simply Wall St's Community page. Each one treats fair value as a thesis about Archer-Daniels-Midland's business that you can watch over time rather than a one off snapshot. Community views on Archer-Daniels-Midland are pulled in two directions, with one camp seeing clear upside and another seeing a stock that already reflects its progress. Bull case: 17% undervalued Read the full Bull Case to see why Archer-Daniels-Midland could be undervalued Bear case: roughly fairly valued Read the full Bear Case to see why Archer-Daniels-Midland could be overvalued Do you think there's more to the story for Archer-Daniels-Midland? Head over to our Community to see what others are saying! Archer-Daniels-Midland sits between two valuation stories. The Discounted Cash Flow (DCF) view suggests the stock trades at a meaningful discount to intrinsic value, while the earnings multiple points to it being overvalued relative to sector norms. That gap comes from the DCF leaning on long term cash generation and capital projects, and the P/E reflecting nearer term growth expectations and sentiment. The key question is whether ADM can turn its investment pipeline into durable cash flow without eroding returns on capital, which will decide if the current discount is an opportunity or a sign that the market is already pricing in those risks. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ADM. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Archer-Daniels-Midland (NYSE:ADM) and its peers. Ingredients, flavors, and fragrances companies supply essential components to food, beverage, personal care, and household product manufacturers. These firms develop proprietary formulations that enhance taste, scent, and texture, creating customer stickiness through specialized expertise and regulatory-approved ingredient portfolios. Tailwinds include growing consumer demand for natural and clean-label products, expansion in emerging markets, and innovation in plant-based and functional ingredients. However, headwinds persist from volatile raw material costs, particularly for agricultural and petrochemical inputs. Regulatory scrutiny over synthetic additives and fragrance allergens poses compliance challenges, while consolidation among major customers increases pricing pressure and negotiating leverage against suppliers. The 5 ingredients, flavors & fragrances stocks we track reported a mixed Q2. As a group, revenues missed analysts’ consensus estimates by 2.4%. In light of this news, share prices of the companies have held steady as they are up 2.3% on average since the latest earnings results. Transforming crops from the world's most productive agricultural regions into everyday essentials, Archer-Daniels-Midland (NYSE:ADM) processes and transports agricultural commodities like grains and oilseeds while manufacturing ingredients for food, beverages, feed, and industrial applications. Archer-Daniels-Midland reported revenues of $22.68 billion, up 7.2% year on year. This print exceeded analysts’ expectations by 2.2%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS and gross margin estimates. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $78.08. Is now the time to buy Archer-Daniels-Midland? Access our full analysis of the earnings results here, it’s free. With origins dating back to 1818 and operations spanning both hemispheres to balance seasonal harvests, Bunge Global (NYSE:BG) is an agribusiness and food company that processes oilseeds, grains, and other agricultural commodities into vegetable oils, protein meals, flours, and specialty ingredients. Bunge Global reported revenues of $24.04 billion, up 88.3% year on year, outperforming analysts’ expectations by 9.3%. The business had a strong quarter with an impressive beat of analysts’ gross margin and EPS estimates. Bunge Global scored the biggest analyst estimate beat and fastest revenue growth in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.3% since reporting. It currently trades at $109.93. Is now the time to buy Bunge Global? Access our full analysis of the earnings results here, it’s free. Responsible for the scents in your favorite perfumes and the flavors in your daily snacks, International Flavors & Fragrances (NYSE:IFF) creates and manufactures ingredients for food, beverages, personal care products, and pharmaceuticals used in countless consumer goods. International Flavors & Fragrances reported revenues of $1.95 billion, down 29.3% year on year, falling short of analysts’ expectations by 25%. It was a softer quarter as it posted full-year revenue and EBITDA guidance missing analysts’ expectations significantly. International Flavors & Fragrances delivered the weakest performance against analyst estimates and slowest revenue growth among its peers. Interestingly, the stock is up 6% since the results and currently trades at $85.78. Read our full analysis of International Flavors & Fragrances’s results here. Turning what others consider waste into valuable resources, Darling Ingredients (NYSE:DAR) collects and transforms animal by-products, used cooking oil, and other bio-nutrients into valuable ingredients for food, feed, fuel, and industrial applications. Darling Ingredients reported revenues of $1.72 billion, up 16.4% year on year. This number surpassed analysts’ expectations by 0.5%. Taking a step back, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates. The stock is up 6.1% since reporting and currently trades at $62.18. Read our full, actionable report on Darling Ingredients here, it’s free. Known for its ability to turn ordinary corn into thousands of different food ingredients, Ingredion (NYSE:INGR) transforms grains, fruits, vegetables and other plant-based materials into specialty starches, sweeteners and other ingredients for food, beverage and industrial markets. Ingredion reported revenues of $1.85 billion, flat year on year. This print topped analysts’ expectations by 0.9%. Aside from that, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but a significant miss of analysts’ gross margin estimates. The stock is up 5.7% since reporting and currently trades at $106.14. Read our full, actionable report on Ingredion here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Archer-Daniels-Midland’s second quarter saw a positive market reaction as the company outperformed Wall Street’s expectations on both revenue and profit. Management attributed this performance to robust operational execution, notably in biofuels and oilseed processing, as well as momentum in the Nutrition segment. CEO Juan Luciano pointed to “robust commercial and operational execution by our team, a constructive biofuels margin environment, elevated global energy prices and momentum in Nutrition, led by Flavors and progress in Specialty Ingredients” as the main contributors to the quarter’s results. The company also benefited from improved global grain trading and higher utilization across key assets. Is now the time to buy ADM? Find out in our full research report (it’s free). Revenue: $22.68 billion vs analyst estimates of $22.19 billion (7.2% year-on-year growth, 2.2% beat) Adjusted EPS: $1.84 vs analyst estimates of $1.44 (28% beat) Operating Margin: 4%, up from 2.2% in the same quarter last year Market Capitalization: $38.79 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Manav Gupta (UBS) asked about the economics of expanding via debottlenecking existing plants versus building new facilities. CEO Juan Luciano explained that brownfield expansions are “about one-quarter the cost of greenfield,” supporting higher returns on investment. Heather Jones (Heather Jones Research) questioned whether Ag Services’ Q2 strength could persist given global trade disruptions. Luciano responded that ADM’s flexible asset network helps mitigate disruptions, but noted that Q3 may be slightly lower, with Q4 depending on export programs. Benjamin Theurer (Barclays) asked what could drive earnings to the high or low end of the updated guidance. Luciano said continued strong execution, favorable biofuel margins, and robust Chinese soybean demand are needed for the high end, while volatility and global risks could push results lower. Andrew Strelzik (BMO Capital Markets) inquired about the underlying drivers of the increased 45Z tax credit benefit and the growth outlook for Human Nutrition. Luciano described ongoing operational improvements and carbon intensity verification in ethanol, plus strong momentum in Flavors—especially in Asia Pacific. Steven Haynes (Morgan Stanley) sought details on precision fermentation and its future profit potential. Luciano described early progress with two projects but declined to quantify the opportunity, citing customer confidentiality and the early stage of development. Looking ahead, our analyst team will watch (1) the pace and impact of capacity expansions in U.S. crush and ethanol facilities, (2) continued margin resilience in biofuels and Nutrition, particularly as policy and market conditions evolve, and (3) any material effects from global trade disruptions or weather events that could affect supply chains and commodity prices. Progress in the rollout of natural color solutions and precision fermentation initiatives will also be key to tracking ADM’s long-term growth trajectory. Archer-Daniels-Midland currently trades at $80.40, up from $78.06 just before the earnings. Is there an opportunity in the stock? Find out in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Archer Daniels Midland Company ADM is gaining from improving biofuels economics, higher crushing margins and investments aimed at expanding processing capacity. The company’s stronger first-half 2026 execution prompted management to raise its full-year earnings outlook, while targeted debottlenecking projects could support additional growth.The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. ADM also has a VGM Score of A, with a Value Score of A, Growth Score of B and Momentum Score of A. The Zacks Style Scores complement the Zacks Rank by evaluating stocks on value, growth and momentum characteristics, with the VGM Score combining the weighted average of the individual Style Scores. ADM reported second-quarter 2026 adjusted earnings of $1.84 per share, up 98% year over year and ahead of the Zacks Consensus Estimate by 29.6%. Revenues rose 7.1% year over year to $22.68 billion. Total segment operating profit increased 75% year over year to $1.45 billion, supported by gains across Ag Services & Oilseeds, Carbohydrate Solutions and Nutrition.The Ag Services & Oilseeds segment benefited from stronger crushing margins and improved asset utilization. Segment operating profit jumped 129% year over year to $867 million, helped by favorable biofuels conditions, elevated energy prices and improved execution. Global oilseed processing volumes increased nearly 5% year over year during the quarter.ADM’s Crushing subsegment delivered a major improvement, with operating profit rising by $330 million from the prior-year quarter. The company cited stronger biofuels margins supported by renewable volume obligations, higher energy prices and solid global demand for soybean meal. Archer Daniels Midland Company price-consensus-eps-surprise-chart | Archer Daniels Midland Company Quote ADM is investing in its existing processing footprint to expand crushing capacity. The company has identified 10 U.S. crush facilities with potential capacity unlocks and is moving ahead with a first phase involving four locations. Management expects these debottlenecking projects to require about one-fourth the capital intensity of a new greenfield facility, with the initial phase potentially requiring around $100 million. The company’s recent capacity investments are aimed at increasing throughput and improving flexibility while supporting renewable fuel demand. ADM expects these upgrades to unlock roughly 700,000 metric tons of additional annual crush capacity across four facilities, creating more than 25 million bushels of new demand for U.S. farmers.ADM is also evaluating ethanol debottlenecking opportunities as improving yields and cost reductions create additional capacity potential. Image Source: Zacks Investment Research Beyond commodity processing, ADM continues to expand higher-margin businesses. Nutrition operating profit increased 51% year over year to $172 million in the second quarter, driven by improvements in both Human Nutrition and Animal Nutrition. Human Nutrition benefited from Flavors growth and progress at the Decatur East plant, while Animal Nutrition gained from operational improvements and portfolio actions.ADM is also pursuing opportunities in natural colors, precision fermentation, biosolutions and decarbonization.Management estimates the U.S. natural-colors transition represents an approximately $1 billion addressable revenue market and is targeting $80 million to $100 million of operating profit over time. Following the strong first-half performance, ADM raised its 2026 adjusted EPS outlook to $5.15-$5.60 from the previous range of $4.15-$4.70. Management expects continued improvement in crushing and ethanol, supported by the biofuels margin environment, while Nutrition is expected to maintain its recovery.The company also expects cost-saving initiatives to contribute over time. ADM remains on track with its enterprise-wide savings program, which targets $500 million to $750 million of aggregate savings over three to five years beginning in 2025. Ingredion Incorporated INGR, meanwhile, is a closer comparison with ADM’s higher-value ingredient operations. INGR converts grains and other plant-based raw materials into starches, sweeteners and specialty ingredient solutions for food, beverage and industrial customers. Adecoagro S.A. AGRO operates across food and agriculture, sugar, ethanol and energy, giving it meaningful exposure to renewable fuels alongside agricultural commodities. Despite the improved outlook, ADM remains exposed to commodity price swings, crush-margin volatility and mark-to-market impacts. Second-quarter results included about $100 million of net positive mark-to-market and timing impacts, which can create earnings volatility depending on market movements.The company also faces uncertainty from trade conditions, geopolitical developments and policy changes that could affect agricultural flows and margins. ADM’s outlook assumes continued North American soybean purchases from China, including progress toward a 25-million-ton U.S. soybean purchase commitment in 2026.With improving earnings trends, capacity expansion plans and favorable Zacks metrics, ADM’s combination of near-term earnings momentum and longer-term investments remains a key factor supporting the stock’s outlook. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report Ingredion Incorporated (INGR) : Free Stock Analysis Report Adecoagro S.A. (AGRO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Archer-Daniels-Midland (ADM) is back in focus after its second quarter 2026 earnings beat and a higher full year outlook, with Ag Services & Oilseeds and Nutrition highlighted as key profit drivers. See our latest analysis for Archer-Daniels-Midland. The recent earnings beat and higher outlook have come after a strong run for Archer-Daniels-Midland, with the share price delivering a 31.38% year to date return and a 41.06% total shareholder return over the past year, even though the stock has eased back in the last week as investors digest the dividend declaration and new fixed income issuance. If this kind of earnings driven move has you thinking about what else could be on your radar, it can be useful to broaden your search using a list of 22 top founder-led companies After Archer-Daniels-Midland’s strong run on the back of its earnings beat and higher outlook, the key question now is timing. Is it worth committing fresh capital at today’s price, or is it better to wait for a pullback before buying in? The most followed Archer-Daniels-Midland narrative puts fair value at $74.60, just under the last close at $77.58. This frames the stock as slightly ahead of that valuation work. Read the complete narrative. Want to see what sits behind that policy driven margin story for Archer-Daniels-Midland? The narrative leans on measured revenue growth, firmer margins, and a richer future earnings multiple to reach its fair value call. The detailed playbook is in the full narrative, not in the headline numbers. Result: Fair Value of $74.60 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Archer-Daniels-Midland's story can change quickly if biofuel policy becomes less supportive or if margin pressure in Ag Services & Oilseeds and Carbohydrate Solutions persists. Find out about the key risks to this Archer-Daniels-Midland narrative. The analyst narrative pegs Archer-Daniels-Midland close to fair value around $74.60, but the SWS DCF model points in a different direction. On that measure, ADM at $77.58 screens as trading about 36.1% below an estimated future cash flow value of $121.46, which implies a wide gap in how the stock is being priced today. The DCF view hinges on ADM’s ability to turn its global network and profit margin improvements into long run cash flows. If that plays out, today’s price could look conservative. If not, the analysts’ more cautious stance may prove closer to reality. Which set of assumptions do you find more reasonable for your own framework? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Archer-Daniels-Midland for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 51 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. With Archer-Daniels-Midland’s valuation signals sending mixed messages, it helps to test the numbers yourself and not rely on a single story. To see what investors currently view as the main positives, start with the 3 key rewards If Archer-Daniels-Midland has sharpened your focus on quality and timing, do not stop here. Broaden your watchlist now so you are not reacting late. Target resilient cash generators by reviewing the 51 high quality undervalued stocks that combine quality fundamentals with appealing prices. Strengthen your income stream by scanning the 8 dividend fortresses that may suit a yield focused approach. Prioritize capital preservation by checking the 79 resilient stocks with low risk scores that score well on financial resilience. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ADM. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Archer-Daniels-Midland Company ADM used its second-quarter 2026 earnings call to frame the year around stronger biofuels economics and execution gains across crushing, ethanol and Nutrition. ADM raised its full-year outlook after adjusted earnings and revenue topped the Zacks Consensus Estimate. Management said second-half delivery still hinges on crush execution, export flows and Nutrition improvement. CFO Monish Patolawala said ADM raised 2026 adjusted earnings guidance to $5.15-$5.60 per share from $4.15-$4.70. He expects the second half to contribute more than half of full-year operating profit, with the third quarter potentially above the fourth. Adjusted earnings of $1.84 per share exceeded the Zacks Consensus Estimate of $1.42 by 29.58%. Revenues of $22.68 billion surpassed the $22.38 billion consensus estimate. Archer Daniels Midland Company price-consensus-eps-surprise-chart | Archer Daniels Midland Company Quote Chairman and CEO Juan Luciano tied the increase to execution, finalized renewable volume obligations, elevated energy prices and improving Nutrition performance. Patolawala said Ag Services and Oilseeds operating profit rose 129% to $867 million. Results included about $100 million of positive net mark-to-market and timing effects, led by crushing. Luciano said global oilseed processing volumes increased close to 5% as utilization improved. Strong meal demand supported record U.S. and Brazilian soybean meal exports, while Barcarena’s return aided South America. A Stephens analyst pressed management on back-half margins. Luciano said North American crushing was about 90% covered for the third quarter and 30% for the fourth. Global coverage was about 70% for the third quarter and lower for the fourth quarter. Patolawala said Nutrition operating profit increased 51% to $172 million despite a 5% revenue decline. Human Nutrition profit rose 51%, while Animal Nutrition profit increased 50%. Luciano said Flavors grew 20% year over year in Asia-Pacific. He maintained a medium-term expectation for at least mid-single-digit Flavors growth, with operating profit growing faster through leverage. Luciano also outlined a roughly $1 billion U.S. natural-colors opportunity. ADM targets $80-$100 million of operating profit over time and has signed two conversion contracts covering packaged food and flavored beverages. A UBS analyst asked whether brownfield crushing expansions offered better returns than greenfield projects. Juan Luciano said the company has identified 10 U.S. plants with capacity-unlock potential and selected four for the first phase. Capital intensity is estimated at about one-quarter of a greenfield build, and the first phase is placed near $100 million. The phased approach preserves flexibility as industry conditions develop. Patolawala said higher throughput spreads fixed costs across more volume. Luciano added that ADM is evaluating ethanol debottlenecking as operational improvements lift yields. An analyst from Heather Jones Research asked about Ag Services cadence.  Luciano said the third quarter should be slightly below the second quarter for company-specific reasons, while the fourth quarter will depend on U.S. soybean, sorghum and corn exports. A BMO Capital Markets analyst asked about the higher 45Z benefit. ADM raised its 2026 estimate to about $250 million from $150 million as carbon-intensity verification and plant-level processes improved visibility. A Barclays analyst asked what would drive the guidance range. Luciano emphasized fourth-quarter crush execution, China’s soybean purchases, geopolitics, weather and energy volatility. CFO Monish Patolawala said guidance excludes new mark-to-market effects and assumes first-half negative timing effects reverse mainly in the third quarter. Luciano combined confidence in current margins with continued dependence on execution. Management is prioritizing organic capacity additions, Nutrition growth platforms and operating improvements. Patolawala maintained capital spending at $1.3-$1.5 billion and said ADM is evaluating opportunistic share repurchases later in 2026. Dividends and targeted organic projects remain core capital-allocation priorities. ADM carries a Zacks Rank #2 (Buy) and a Value, Growth, Momentum and VGM Score of A each. The Style Score framework views A and B scores as the strongest complements to Zacks Rank #1 (Strong Buy) and #2 stocks over the next one to three months. You can see the complete list of today’s Zacks #1 Rank stocks here. The combination indicates favorable characteristics across valuation, growth and price momentum, but does not guarantee future performance. The Zacks Rank can change as analysts revise earnings estimates after the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Archer Daniels Midland Co. (NYSE:ADM) shares gained more than 4% after the agricultural commodities group reported second-quarter 2026 results that comfortably exceeded profit expectations and raised its earnings outlook for the full year. Adjusted earnings came in at $1.84 per share, beating analyst forecasts by $0.47. Revenue reached $22.61 billion, slightly below the consensus estimate of $22.83 billion, but still represented a 7% increase from $21.17 billion in the same period last year. ADM increased its full-year adjusted earnings per share guidance to a range of $5.15 to $5.60, compared with its previous forecast of $4.15 to $4.70. The midpoint of the new guidance, $5.38 per share, is well above the analyst consensus estimate of approximately $4.80, helping to boost investor confidence following the earnings release. The stronger outlook, combined with the earnings beat, pushed the company’s shares 4.06% higher. Chief Executive Officer Juan Luciano said the company delivered another quarter of solid operational and financial performance. “ADM delivered robust second-quarter financial and operating results,” said Juan Luciano, Chair of the Board and CEO. “Segment operating profit rose significantly year-over-year and sequentially, with broad-based growth across all three segments—driven by strong commercial and operational execution by the team, a constructive biofuels environment, and momentum in Nutrition, led by Flavors.” ADM’s Ag Services & Oilseeds division delivered the strongest performance during the quarter, with operating profit surging 129% to $867 million. The increase was driven by stronger margins in crushing and agricultural services, supported by the finalisation of the 2026 and 2027 Renewable Volume Obligations under the U.S. Renewable Fuel Standard, higher global energy prices and solid operational execution. The Carbohydrate Solutions segment reported operating profit of $411 million, an increase of 22% from a year earlier, benefiting from healthy ethanol margins in North America and supportive government policy incentives. Meanwhile, the Nutrition division posted operating profit of $172 million, up 51% year over year, helped by continued growth in its Flavors business and operational improvements across the segment. ADM expects capital expenditure for 2026 to be between $1.3 billion and $1.5 billion as the company continues investing in its operations and long-term growth initiatives. Archer-Daniels-Midland stock price

Tuesday, August 4th, 2026Another busy day with pre-market futures way up this morning — it’s days like these where you pat yourself on the back for not having taken all of August off. Following triple-digit gains on the major indexes yesterday, we’re up another +559 points on the Dow, +221 on the Nasdaq and +6 on the S&P 500. Spot oil prices dial back further — $77 per barrel (/bbl) on WTI and $81/bbl on Brent crude — on renewed hope that a deal between the U.S. and Iran to reopen the Strait of Hormuz. Investors do not afford themselves any “Lucy and the football” cynicism; one of these days, a peace agreement might actually stick — and everyone betting this way will have a big head start. Bond yields cooled a couple basis points from a day ago: +4.66% on the 10-year, +4.21% on the 2-year. The U.S. Trade Balance for June came in at a deficit of -$73.3 billion, slightly worse than the -$72.9 billion projected, but a nice improvement month over month — -$77.6 billion reported for May, and well off the all-time low -$133 billion back in March of 2025. Both Imports and Exports lightened their loads compared to the prior month. Caterpillar CAT shares are up +11.3% at this hour, giving a big boost to the blue-chip Dow index. Earnings of $8.17 per share amounted to a +30.72% earnings beat, as the company continues to benefit from the physical data center buildout trend. The stock is still a ways from the late-June all-time highs above $1000 per share, but a strong showing this morning, nevertheless.McDonald’s MCD outperformed bottom-line estimates in its Q2 this morning by 6 cents to $3.38 per share. Revenues came in slightly below expectations, however, with overall same-store sales coming in-line overall, with some weakness in U.S. sales. Shares are up slightly, but still down double-digits, year to date.BP’s BP Q2 showed a solid bottom-line beat, with earnings of $2.22 per share versus $1.98 forecast, for a +12% earnings surprise. The oil & gas supermajor plans to sell off its North Sea business, and shares are selling off a bit: -1.4% at this hour, but still up more than +25% year to date.Archer Daniels Midland ADM added to its strong 2026 performance with a +29.6% earnings beat: $1.84 per share versus $1.42 in the Zacks consensus. Revenues came in a tad light, but biofuels showed promise. Shares are up +2.6% this morning, adding to its +35% gains year to date.On the other side, Spotify SPOT disappointed with a -7.34% earnings surprise this morning — $3.03 per share versus $3.27 projected — and shares are down -6.2% in early market trading. This takes down the stock further from its -16% losses since the start of the year.After the closing bell this afternoon, we expect earnings results from chip giant AMD AMD, biopharma major Amgen AMGN and travel platform Booking.com BKNG, among many others. We continue with the busiest week of Q2 earnings season even as many of the marquee names have already reported. The first of the “Jobs Week” data hits the tape after the opening bell today, with the Job Openings and Labor Turnover Survey (JOLTS) for June. Estimates have rolled back slightly to 7.4 million from 7.6 million job openings reported a month ago. Job Quits remain subdued, keeping with the “low hire/low fire” labor market.Factory Orders for June are expected to come in positive again, to +0.3%, after posting a negative -1.3% for May, which was the first down month of 2026. A big drop in non-defense aircraft orders skewed the numbers a bit a month ago. That said, if the headline number disappoints and comes in negative again, it will be the first time we’ve seen back-to-back negative prints since last summer.Questions or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report BP p.l.c. (BP) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report McDonald's Corporation (MCD) : Free Stock Analysis Report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report Booking Holdings Inc. (BKNG) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research