What Just Happened To ADM Stock

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Archer-Daniels-Midland (ADM) stock fell 6.8% on Tuesday, November 3, 2026, during a session where the S&P 500 rose 0.4%. According to news reports, the drop came the day ADM reported results that beat analysts' earnings estimate but missed their revenue estimate, and the company raised its full-year outlook. So what did ADM report for the third quarter, and what did management say about the months ahead?

What Did ADM Report For The Third Quarter?

ADM earned an adjusted $1.77 a share, compared to the $1.60 analysts expected. Revenue was the weaker line, with one news report stating ADM missed analysts' revenue estimate. Management raised its 2026 range for adjusted earnings per share to $5.50 to $5.80, from $5.15 to $5.60.

Biofuels lifted two of ADM's businesses. The crushing business posted a profit of $311 million, about $300 million more than a year earlier, and management tied that to strong North American biofuels margins. It said those margins came from higher domestic demand under a biofuel policy finalized in March, along with higher global energy prices. Stronger ethanol margins, including policy incentives, also lifted its corn business.

Part of the quarter's profit was one-time. Management said it released about $40 million to $50 million of reserves as a one-time benefit. Asked about 2027 on the call, management said it expects 2027 to be "somewhere in the range of what '26 was plus/minus a little bit depending on the condition."

Did ADM's Peers Fall As Much?

No. ADM fell far more than its peers and its sector. The consumer staples sector fund XLP fell 2.1%, so ADM's drop was more than three times the sector's. The three other large companies in its agricultural products and services GICS sub-industry had a median fall of 0.7%. Ingredion and Bunge Global are two of those three peers, and among them, Ingredion fell 2.2% while Bunge Global rose 0.5%. The sector was weak that day, but most of ADM's drop was its own.

Where ADM Stock Stands After The Drop

No session in the prior 365 days recorded a fall this large. The drop also deepened a slide: from October 5 to November 3, ADM stock lost 14.4%, while the S&P 500 lost 2.6%.

You are still ahead if you bought a year ago. Over the twelve months to November 3, the stock returned 20.0%, against 11.9% for the S&P 500. Its $70.60 close sits well below its highest close of the past year, $88.09 on September 17, 2026. The lowest close in that time was $56.00, on November 10, 2025.

ADM is expected to report its fourth-quarter results in February 2027, and the profit from its crushing business is the measure to watch.

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