15 January, 2022 - 18 January, 2022
Riva del Garda, Italy
20 January, 2022 - 22 January, 2022
25 January, 2022 - 26 January, 2022
Porto Alegre, Brazil
26 January, 2022 - 27 January, 2022
New York, U.S.
07 February, 2022 - 09 February, 2022
Cargill reported a 24% fall in third-quarter earnings after the world’s largest food commodities supplier was hit by a charge of $161 million related to the recent change in U.S. tax laws.
Net earnings for the three months to February 28 totalled $495 million compared to $650 million in the same period last year. For the nine months, income fell 4% to $2.39 billion. Without the tax-related charges, third-quarter earnings were in line with last year, said the agricultural trading house. Adjusted operating profits for the third quarter fell 22% to $559 million.
Two of the company’s four main segments grew in the third quarter, led once again by Cargill’s animal feed, nutrients and beef and egg businesses, which contributed strongly to earnings.
"Our steady results from operations demonstrate that our strategic direction is the right one," said David MacLennan, Cargill's chairman and chief executive officer. "The performance of our team worldwide keeps Cargill moving ahead, preparing us to continue to grow."