A strong performance from Cargill during the third quarter of its financial year was not enough to offset declining earnings during the first half, the company revealed today (10 April).
Cargill booked earnings of US$766m in the third quarter, up from $763m last year, on revenues that were up 5% to $31.9bn.
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However, year-to-date earnings dropped to $1.1bn, compared to $2.29bn in the copmparable period of last year. Nine-month revenues totalled $99.8bn, up 18% from $84.7bn in the prior period.
“Cargill’s earnings strengthened in the third quarter, totalling more than twice that earned in the first six months of the fiscal year,” said Greg Page, Cargill chairman and CEO.
“Although it continues to be an unsettled year for the global economy, we did a better job navigating the uncertainty. It reinforces our focus on creating value for our customers, improving our work processes and keeping our costs in check.”
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