IMC profit falls by a third in first half of 2026

IMC posted a net profit of $34.3 million in the first half of 2026, down 33% from $51.4 million in the same period last year. At the same time, the company’s revenue increased by 6% to $88.9 million.

The company’s normalized EBITDA for January-June amounted to $50.2 million, down 22% year on year. Operating profit fell 27%, from $54.7 million to $40 million, while gross profit declined 19% to $55 million.

IMC attributed the deterioration in its financial performance to lower corn and sunflower prices compared with last year, higher logistics costs and the depreciation of the Ukrainian hryvnia.

At the same time, the cost of goods sold increased by 20%, from $66.4 million to $79.9 million. In particular, payroll expenses for production personnel rose 23% to $7.7 million, while spending on fuel and energy resources increased 2.3-fold to $6.9 million.

Corn remained IMC’s main source of revenue, accounting for 98.1% of the company’s total revenue. The agricultural holding sold 419,000 tons of corn in the first half of the year, compared with 385,900 tons a year earlier. Revenue from corn sales increased 6% to $87.1 million, although the average selling price fell from $213 per ton to $208 per ton.

IMC’s operating cash flow in the first half fell 20% to $12 million. The company attributed the decline to lower agricultural commodity prices and higher operating expenses.