Cargill Q3 2014 Net Earnings Drop 23 Percent From Year-Ago Period

Cargill reported net earnings of $319 million in the fiscal 2014 third quarter ended Feb. 28, down 28 percent from $445 million in the year-ago period. Nine-month earnings were $1.45 billion, down 21 percent from $1.83 billion a year ago. Third-quarter revenues were $32 billion, essentially even with the year-ago period; nine-month revenues totaled $98.7 billion. 

“External events affected our quarterly results, even as we saw operational improvements in key businesses,” said David MacLennan, Cargill’s president and chief executive officer, in a prepared statement. “Our animal protein results are much improved from last year, and, with 2012’s acquisition of Provimi, our global animal nutrition operations are on a record pace for the year. Despite one of the worst winters on record, we reliably delivered a near-record tonnage of road salt and deicing products to our customers across North America’s snow belt.” Full report.

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