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

Farmer-owned cooperative posts net earnings of $12 million on $3.0 billion in sales

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

https://www.landolakesinc.com/Press/News/2019-Q3-Earnings-Release

ARDEN HILLS, Minn. (November 7, 2019) – Land O’Lakes, Inc. today reported quarterly net sales of $3.0 billion with net earnings of $12 million for the third quarter ending September 30, 2019, compared to net sales of $3.2 billion and net earnings of $26 million during the third quarter of 2018. Year-to-date net sales totaled $10.3 billion with net earnings of $151 million compared to net sales of $11.3 billion and net earnings of $209 million during the same period in the prior year.
“In the context of global economic headwinds, catastrophic weather and increasing uncertainty about the future of rural America, Land O’Lakes has turned to demand creation, digital platform development, and an aggressive focus on customer segmentation to support strong sales,” said Beth Ford, president and CEO of Land O’Lakes, Inc. “Maintaining and expanding our market position, and advocating for the American farmer, remain key focuses for our cooperative into the fourth quarter and beyond.”
Earnings in Dairy Foods were down for the quarter as a result of lower margins within the retail segment, higher costs related to the expansion of the Kiel, WI facility and margin compression in global dairy ingredients driven by higher input costs. Crop Inputs benefited from recent cost reductions which helped to offset the impact of a compressed planting season resulting in fewer planted acres and lower sales of crop protection products. Performance in Animal Nutrition was lower due to increased forage availability in the Southwest which impacted demand.
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