Higher earnings for Cargill in second quarter

Worldwide
Published:  10 January, 2020

Adjusted operating earnings for the second quarter of the company’s fiscal year 2020, ended November 30, 2019, increased in two of Cargill’s four business segments, including Animal Nutrition and Protein.

Overall, Cargill’s adjusted operating earnings totalled US$1.02 billion, up 19% from US$853 million in the corresponding period of the previous fiscal year. For the first half of fiscal 2020, adjusted earnings amounted to US$1.93 billion. Net earnings on a U.S. GAAP basis for the second quarter were US$1.19 billion, up 61% year-on-year, while net earnings for the first half were up 20% to US$2.11 billion. Second-quarter revenues rose 4% to US$29.2 billion, and six-month revenues totalled US$58.2 billion, a 3% rise. According to Cargill, transformation efforts, recent acquisitions and capital investments all had positive impacts in businesses like animal nutrition and global poultry. “Our protein businesses around the world were well prepared to meet opportunities from country-by-country changes in demand, shifts in global protein flows due to African swine fever and other market forces”, said Cargill.