Cargill reported $404 million in earnings from continuing operations in the fiscal 2011 fourth quarter ended May 31, a 7% decrease from $435 million in the same period in 2010.
For the full fiscal year, earnings from continuing operations totaled $2.69 billion, a 35% increase from $1.99 billion in the 2010 fiscal year. The company recorded an additional $359 million in the fourth quarter from discontinued operations – income attributable to Cargill’s former majority investment in The Mosaic Company. For the full fiscal year, income from discontinued operations was $1.55 billion.
“The past year presented a challenging operating environment for Cargill and our customers,” said Greg Page, Cargill chairman and CEO. “From weather-related supply shocks in food commodities, grain export restrictions and rising energy prices to the uneven global economic recovery, looming sovereign debts and deficits, political unrest and natural disasters – the uncertainty led to volatile prices across a range of raw materials."