USA: Midwest Grain reports third quarter results
Midwest Grain Products, Inc. (Nasdaq: MWGP) reported yesterday that while abnormally high energy costs had a negative impact on the company's earnings for the third quarter of fiscal 2001, conditions currently are much improved. As anticipated in a previous report, skyrocketing natural gas prices caused energy costs to soar in the quarter, which ended March 31. "However, although still higher than they were a year ago, those costs are down from their peak winter levels, helping pave the way for profitability in the fourth quarter," said Ladd Seaberg, president and chief executive officer. "Furthermore," he said, "we are taking measures through our risk management program to better protect against possibilities for future severe hikes in natural gas prices."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Does Kraft Heinz want to swallow Unilever whole?
- US food next wave on display at Winter Fancy Food
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry operating earnings strengthen on slow sales
- Kerry Group staff in Ireland suspend strike action
- Kerry's Scanlon to replace McCarthy as CEO