Media Contact

MEDIA CONTACT

Have a media inquiry? No problem.

Land O’Lakes, Inc. reports results for second quarter 2019

Farmer-owned cooperative posts positive net earnings of $75 million on $3.8 billion in sales despite challenging times for agriculture

Land O’Lakes, Inc. reports results for second quarter 2019

https://www.landolakesinc.com/Press/News/2019-Q2-Earnings-Release

ARDEN HILLS, Minn. (August 1, 2019) – Land O’Lakes, Inc. today reported quarterly net sales of $3.8 billion with net earnings of $75 million for the second quarter ending June 30, 2019, compared to net sales of $4.2 billion and net earnings of $67 million during the second quarter of 2018. Year-to-date net sales totaled $7.3 billion with net earnings of $139 million, compared to net sales of $8.1 billion and net earnings of $183 million during the same period in the prior year.

“As the entire industry is dealing with a historically unusual and difficult planting season, our differentiated insights are even more important for growers. We are focused on working with them in-season and identifying and taking advantage of opportunities in Animal Nutrition, as well,” said Beth Ford, president and CEO of Land O’Lakes, Inc. “The tough dairy environment has been widely noted but we are growing our capability in new entrants into the market and advocating for additional market access for our members.”

Earnings were higher for the quarter due to improved performance in Animal Nutrition, which benefited from higher margins in formula feed and premix. Dairy Foods earnings were flat to prior year with higher butter volumes driven by a late Easter offset by increased promotional spending and startup costs related to the expansion of Land O’Lakes’ Kiel, WI facility. Performance in Crop Inputs was lower due to adverse spring weather conditions resulting in lower planted acres, and lower sales of seed and crop protection products.

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 212 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 and businesses in agriculture 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