Core Insights - CHS Inc. reported a net income of $260.5 million and revenues of $8.9 billion for the first quarter of fiscal year 2026, showing an increase in net income compared to $244.8 million but a decrease in revenues from $9.3 billion in the same quarter of fiscal year 2025 [1][2] Financial Performance - The energy segment achieved pretax earnings of $152.3 million, a significant increase of $136.6 million compared to the prior year [3][4] - The grains segment saw a decline in pretax earnings to $36.2 million, down $130.8 million from the previous year, influenced by global trade factors and lower margins [3][4] - Agronomy segment pretax earnings increased to $36.8 million, up $8.7 million year-over-year, driven by strong performance in the CF Nitrogen joint venture [4][5] - Corporate and Services segment reported pretax earnings of $46.8 million, a slight decrease of $1.2 million compared to the prior year [6] Market Dynamics - The company noted challenges in the agricultural market due to global dynamics and a tighter spending environment for farmers, despite a strong harvest contributing positively to the energy segment [2][4] - Increased refining margins and strong diesel demand were highlighted as key factors for the energy segment's performance, while the grains segment faced headwinds from decreased soybean export volumes and lower margins [5][6] Operational Changes - CHS has implemented a new end-to-end product-line operating model, which is reflected in its financial reporting, providing better visibility into the supply chain and positioning the company for long-term growth [2][4]

Company Overview - Archer-Daniels-Midland Company (ADM) is valued at a market cap of $29.6 billion and is headquartered in Chicago, Illinois, being one of the world's largest agricultural processors and nutrition providers [1] - The company operates a global network of crop procurement, storage, transportation, and processing facilities, connecting farmers with end-users [2] Stock Performance - ADM shares have declined 4.4% from their 52-week high of $64.38, reached on August 25, but have increased 24% over the past three months, outperforming the Dow Jones Industrial Average's 6.7% rise during the same period [3] - Year-to-date, ADM stock is down 21.9%, underperforming the Dow Jones Industrial Average's 7.7% gain, but has risen 3.3% over the past 52 weeks compared to the Dow's 11.5% return [4] Financial Performance - In the second quarter, ADM reported a revenue of $21.2 billion, a 5% year-over-year decline, and adjusted EPS of $0.93, down 10% year-over-year, although both figures exceeded analysts' estimates [5] - The company faced challenges in Ag Services & Oilseeds and Carbohydrate Solutions due to lower volumes and weaker margins, while Nutrition showed modest growth, particularly in Animal Nutrition [5] - Management has adjusted the full-year EPS guidance to around $4.00, focusing on cost savings, operational efficiencies, and portfolio simplification [5]

Forward-Looking Statements • Today's presentation includes forward-looking statements that reflect Bunge's current views with respect to future events, financial performance and industry conditions. Q2 2025 Earnings Results Review July 30, 2025 2 2 • These forward-looking statements are subject to various risks and uncertainties. Bunge has provided additional information in its reports on file with the Securities and Exchange Commission concerning factors that could cause actual results to differ materially ...

Financial Performance - Bunge's adjusted EPS for Q1 2025 was $1.81, compared to $3.04 in Q1 2024[12] - Adjusted Segment EBIT was $406 million in Q1 2025, a decrease from $719 million in Q1 2024[12] - Agribusiness' Adjusted Segment EBIT was $268 million in Q1 2025, down from $487 million in Q1 2024[12] - Refined and Specialty Oils' Adjusted Segment EBIT was $123 million in Q1 2025, compared to $204 million in Q1 2024[12] - Milling's Adjusted Segment EBIT was $15 million in Q1 2025, a decrease from $28 million in Q1 2024[12] - Adjusted Total EBIT for Q1 2025 was $362 million, compared to $676 million in Q1 2024[12] Financial Position - At the end of Q1 2025, Readily Marketable Inventory (RMI) exceeded Net Debt by $3 billion[24] - The Adjusted Leverage Ratio was 0.6x at the end of Q1 2025[24] - The company had a cash balance of approximately $3.2 billion at quarter-end[30] Outlook - Bunge continues to forecast a full-year 2025 adjusted EPS of approximately $7.75[11, 39] - The company expects net interest expense to be in the range of $220 million to $250 million and capex in the range of $1.5 billion to $1.7 billion[39]

Core Insights - Archer Daniels Midland (ADM) reported a revenue of $20.18 billion for the quarter ended March 2025, which is a decrease of 7.7% compared to the same period last year [1] - The earnings per share (EPS) for the quarter was $0.70, down from $1.46 in the year-ago quarter, with a surprise of +1.45% against the consensus estimate of $0.69 [1] Financial Performance - The reported revenue fell short of the Zacks Consensus Estimate of $20.69 billion, resulting in a surprise of -2.51% [1] - ADM's stock has returned +10.5% over the past month, compared to the Zacks S&P 500 composite's +11.5% change, indicating a performance in line with the broader market [3] Segment Performance - Processed volumes for Oilseeds were reported at 9,091 Kmt, slightly below the average estimate of 9,152.33 Kmt [4] - Revenue from Carbohydrate Solutions was $2.57 billion, compared to the estimated $2.70 billion, reflecting a -4.2% change year-over-year [4] - Revenue from Ag Services and Oilseeds was $15.68 billion, below the average estimate of $16.07 billion, representing a -9% year-over-year change [4] - Nutrition segment revenue was $1.82 billion, slightly below the estimated $1.85 billion, with a -1% change compared to the previous year [4] - Adjusted segment operating profit for Carbohydrate Solutions was $240 million, exceeding the average estimate of $224.98 million [4] - Adjusted segment operating profit for Nutrition was $95 million, significantly higher than the average estimate of $43.30 million [4] - Adjusted segment operating profit for Ag Services and Oilseeds was $412 million, below the average estimate of $454.27 million [4]