Archer-Daniels-Midland Company (ADM) Goldman Sachs Industrials and Materials Conference 2025 December 3, 2025 3:30 PM EST
Company Participants
Juan Luciano – Chairman, CEO & President
Gregory Morris – Senior VP and President of Agricultural Services & Oilseeds
Conference Call Participants
Patrick Fischer – Goldman Sachs Group, Inc., Research Division
Presentation
Patrick Fischer
Goldman Sachs Group, Inc., Research Division
All right. We’ll go ahead and get started. I think this is the last one for me anyway. I don’t know if you guys got a few meetings.
Juan Luciano
Chairman, CEO & President
Last one for me.
Patrick Fischer
Goldman Sachs Group, Inc., Research Division
There we go. So we’re very happy to welcome Archer-Daniels-Midland, ADM up to the stage with us today. Juan Luciano, Chairman and Board leader, Chief Executive Officer; and then Greg Morris, who’s the President of the Agriculture Services and Oilseeds business, the core of the company. Again, thank you guys for spending some time with us today.
Question-and-Answer Session
Patrick Fischer
Goldman Sachs Group, Inc., Research Division
I think maybe start us off by just kind of looking at 2025, if you go back to January 1 of this year, kind of what’s gone right, what’s gone wrong? How does ’25 look as a baseline year to then project into ’26?
Juan Luciano
Chairman, CEO & President
Okay. So thank you, Duffy. Thank you for hosting this chat, and it’s very good to be here in a very well-attended conference this year. So I appreciate that.
I think the environment in 2025 was very difficult and dynamic. And I think that the team focused on what we can control. You put all that energy on the team on the things that we can flex to defend ourselves from the conditions until the conditions improve. So I would say, if you think
