Cargill reports third-quarter fiscal 2012 earnings

Cargill today reported $766 million in earnings from continuing operations in the fiscal 2012 third quarter ended Feb. 29, 2012, essentially even with $763 million earned in the same period a year ago. In the first nine months, earnings from continuing operations were $1.1 billion, compared with $2.29 billion in the year-ago period. Both the prior year figures exclude earnings from Cargill’s former majority investment in The Mosaic Company.

Consolidated revenues in the 2012 third quarter were $31.9 billion, a 5 percent increase from $30.5 billion a year ago. Nine-month revenues totaled $99.8 billion, up 18 percent from $84.7 billion in the prior period.

“Cargill’s earnings strengthened in the third quarter, totaling more than twice that earned in the first six months of the fiscal year,” said Greg Page, Cargill chairman and chief executive officer. “Although it continues to be an unsettled year for the global economy, we did a better job navigating the uncertainty. It reinforces our focus on creating value for our customers, improving our work processes and keeping our costs in check.”