Cargill reports more than double net earnings from last year
Fourth quarter results published
Cargill reported fourth-quarter net earnings of $691 million, compared with last year's $327 million during the same period.
Revenues came in at $28.1 billion, an 11% increase from last year's $25.4 billion. Full fiscal year results for earnings came in 22% lower than last year at $2.6 billion, and full-year revenues were also a slightly lower $107.9 billion compared with last year's $115.1 billion. In spite of lower overall numbers, the company is considering the fiscal year a success. "We are pleased with the strength and breadth of Cargill's performance," said Chairman and CEO Greg Page. "Fifty-six percent of the company's business units delivered increased earnings for the full year, including 20% at record levels."
Expansion remains an important part of Cargill's business plan, according to the company. "Over the past year, we opened 17 new and expanded facilities of significant scale, including joint ventures," said Page. "Fifteen more major projects are under way."