Land O'Lakes reported 2010 Q2 total net sales of $2.96 billion compared to $2.81 billion for the corresponding period in 2009. Net earnings attained $65.3 million ($81.5 million in 2009).
It was stated that 2009 earnings were enhanced by gains in ingredient trading of $44.8 million, rendering the non-trading comparisons invalid. Excluding the effect of hedging, second quarter earnings were $64.3 million for Q2 2010 compared to an adjusted value $53.8 million.
The Land O'Lakes website does not break down segment sales and contribution, but the company statement indicated “year-to-date earnings of $96.3 million” were improved in the dairy and egg segments, with less favorable comparisons in the feed and the crop inputs operations.
