MINNEAPOLIS, October 7, 2014 – Cargill today reported net earnings of $425 million in the fiscal 2015 first quarter ended Aug. 31, down 26 percent from $571 million in the year-ago period. Revenues in the first three months totaled $33.3 billion, a 2 percent change from last year’s $33.8 billion.
“Although Cargill’s first quarter was not as strong as last year, we had several areas of good performance and are optimistic about the opportunities ahead,” said David MacLennan, Cargill’s president and chief executive officer. “This year’s big crops, not just in North America but across agricultural production areas worldwide, will enhance food security after several years of weather disruptions. Our company is well positioned to connect these new supplies to growing demand.”
MacLennan noted the first quarter was marked by a great deal of geopolitical uncertainty, and that Cargill’s regional teams did an excellent job serving customers while managing the impact. He also said Cargill made good progress on efforts underway to improve the company’s efficiency and accelerate the pace of technology and process improvements. Full report.