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Ardent Mills fiscal 2026 profit drops 28% as earnings decline
Conagra, which owns 44% of the milling joint venture, attributed the lower results to weaker commodity trading revenue tied to a less volatile wheat market.
Ardent Mills ended fiscal 2026 with lower earnings and gross profit, and top line results marked a third straight year of sales declines, according to its reporting through Conagra Brands’ 2026 10-K filed July 15.
Ardent Mills’ after-tax earnings fell 28% to $267.4 million in fiscal 2026 from $369.2 million in 2025. Gross profit dropped nearly 20% to $525.7 million after rising 2.2% to $656.2 million in fiscal 2025, while net sales declined 7% to $3.71 billion from just under $4 billion in fiscal 2025.
Conagra said equity method investment earnings from its stake in Ardent Mills fell 26% in fiscal 2026 to $140.7 million. For the 2026 fourth quarter ended May 31, equity method investment earnings declined 26% year over year to $42.6 million.
The company also noted fiscal 2026 results reflected lower commodity trading revenue, as well as restructuring-related net charges of $9.6 million. Excluding restructuring and other unusual items, Conagra reported adjusted equity method earnings of $150.3 million, down 21% from $189.6 million a year earlier, and projected fiscal 2027 adjusted equity method earnings of approximately $140 million.