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Land O’Lakes, Inc. reports third quarter results

Farmer-owned cooperative reports $195 million of net earnings on $14.2 billion of sales for the first nine months 

Land O’Lakes, Inc. reports third quarter results


ARDEN HILLS, Minn. (October 27, 2022) – Land O’Lakes, Inc. today reported year-to-date net sales totaling $14.2 billion with net earnings of $195 million. During the same period of last year, the company reported net sales of $11.5 billion and net earnings of $253 million. For the third quarter ending Sept. 30, 2022, the company reported net sales of $4.4 billion and net loss of $53 million, compared with net sales of $3.5 billion and net earnings of $17 million in the third quarter of 2021. 
“Like all companies right now, Land O’Lakes continues to navigate the opportunities and challenges of a volatile operating environment,” said Beth Ford, president and CEO of Land O’Lakes, Inc. “Our talented teams are leveraging the incredible momentum we’ve built throughout the year and are consistently showing up for our member-owners, customers and communities.” 
Our ag businesses performed well during the first nine months of the year, as producers focused on maximizing yields during a period of high commodity prices and a short supply of critical food-related commodities. Strong performance in Crop Inputs was driven by higher proprietary volumes, innovation and a rich product mix in crop protection, in addition to higher earnings from retail joint ventures. This was partially offset by lower earnings in Animal Nutrition due to margin compression in premix and milk replacer, as well as lower volumes in formula feed. 
Dairy Foods financial results were below prior year levels, primarily due to lower retail butter volumes and margin compression resulting from higher input costs, volatile powder markets and inflationary cost increases in both manufacturing and transportation. 
More information about the company’s 2022 performance can be found at
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Any forward-looking statements represent our current judgment on what the future holds but are subject to risks and uncertainties that could cause actual results to differ materially. Undue reliance should not be placed on these forward-looking statements, which reflect our opinions only as of the date of this release. We will not revise or publicly release the results of any revision to any forward-looking statements in light of new information or future events.

Media Contact:Brooke Dillon,; 651.202.1670

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 2021 annual sales of $16 billion, Land O'Lakes is one of the nation's largest cooperatives, ranking 232 on the Fortune 500. Building on a legacy of more than 100 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 Truterra. The company does business in all 50 states and more than 60 countries. Land O'Lakes, Inc. corporate headquarters are located in Arden Hills, Minnesota.

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