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Land O'Lakes, Inc. reports results for first quarter 2019

Farmer-owned cooperative posts net earnings of $64 million on $3.5 billion in sales

Land O'Lakes, Inc. reports results for first quarter 2019

https://www.landolakesinc.com/Press/News/2019-Q1-Earnings-Release

ARDEN HILLS, Minn. (May 2, 2019) – Land O’Lakes, Inc. today reported net sales of $3.5 billion and net earnings of $64 million for the first quarter ending March 31, 2019, compared with net sales of $3.9 billion and net earnings of $116 million during the first quarter of 2018.

“These first quarter results are positive news for our cooperative and our member-owners in light of a disrupted environment and economic headwinds facing the agriculture sector,” said Beth Ford, president and CEO of Land O’Lakes, Inc. “While earnings were down, WinField United had a strong quarter as farmers returned to the fields and Dairy performance, while affected by a late season Easter, finished the quarter with strong momentum.”

Animal Nutrition earnings were lower due to a decline in premix margins, which benefited from elevated vitamin markets during the first quarter of 2018, as well as lower livestock volumes, which were impacted by weather conditions and producer economics. Earnings in Dairy Foods were also lower largely due to a later Easter in 2019, which shifted innovative dairy product shipments into the second quarter. Performance in Crop Inputs improved due to favorable product mix and lower overall administrative costs.

More information about the company’s 2019 performance can be found at www.landolakesinc.com/investors.

Media Contact: Chuck Lippstreu 612.368.5600


About Land O'Lakes, Inc. 
Land O'Lakes, Inc., one of America's premier agribusiness and food companies, is a member-owned cooperative with industry-leading operations that span the spectrum from agricultural production to consumer foods. With 2018 annual sales of $15 billion, Land O'Lakes is one of the nation's largest cooperatives, ranking 216 on the Fortune 500. Building on a legacy of more than 98 years of operation, Land O'Lakes today operates some of the most respected brands in agribusiness and food production including LAND O LAKES® Dairy Foods, Purina Animal Nutrition, WinField® United and Land O’Lakes SUSTAIN. The company does business in all 50 states and more than 60 countries. Land O'Lakes, Inc. corporate headquarters are located in Arden Hills, Minn.



4001 Lexington Avenue North Arden Hills, MN 55126 | Mailing: P.O. Box 64101 St. Paul, MN 55164-0101 | 651.375.2222