Land O'Lakes, Inc. reports annual results for 2019

ARDEN HILLS, Minn. (February 26, 2020) – Land O’Lakes, Inc. today reported net sales of $13.9 billion and net earnings of $207 million for the year ending December 31, 2019, compared to net sales of $14.9 billion and net earnings of $255 million in 2018.
The business continues to perform well in our primary mission of supporting our farmer members’ market access. Our strong balance sheet enabled both investment and innovation,” said Beth Ford, president and CEO, Land O’Lakes, Inc. “Our Dairy business had strong growth at retail in premium dairy and foodservice amid timing of margin compression and distorted markets. Our Animal Nutrition business saw disruption in cattle due to weather. And, in the face of challenging weather and trade dynamics, our Winfield United business out-performed the prior year evidencing the strength of its offering and strong cost management.”
Specifically, earnings in Dairy Foods were down as a result of lower margins within the retail and global ingredient segments which were partially offset by continued growth in foodservice and premium dairy. Performance in Animal Nutrition was also lower due to increased forage availability in the Southwest and challenging dairy economics which impacted demand and product mix. Crop Inputs earnings were higher due to customer segmentation and demand creation efforts which improved product mix, and cost reductions which helped to offset the impact of a compressed planting season resulting in fewer planted acres and lower crop protection sales.
More information about the company’s 2019 performance can be found here.