Cargill reports ‘a steady performance’ in 2019 first-quarter

Asia Cloud China Cat Colorful Agriculture
Asia Cloud China Cat Colorful Agriculture

Cargill reported results for the first quarter of fiscal 2019, which ended Aug. 31, 2018. Key measures include: The report showed that adjusted operating earnings totaled $883 million, nearly matching the $888 million earned in last year’s strong comparative period. Net earnings on a U.S. GAAP basis were $1.02 billion, up 5 percent from $973 million in the prior-year period. “Revenues rose 5 percent to $28.7 billion… A steady performance powers good start to the fiscal year,” Cargill reports. “Our customers are choosing Cargill more and more often because we provide them the confidence they need to win in a fast-changing world,” said David MacLennan, Cargill’s chairman and chief executive officer.
According to report, adjusted operating earnings in Animal Nutrition & Protein were just below last year’s strong opening quarter, lifted by another good performance in North American protein.
And Food Ingredients & Applications delivered slightly lower earnings against a strong comparative period.

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