Land O’Lakes announces first quarter financial results, reporting quarterly net sales of $3.8 billion and net earnings attributable to Land O’Lakes of $99.4 million for the period ending March 31, 2015. While results were down compared to 2014’s record first quarter, this year’s performance stands as one of the strongest first quarters for the company.
The crop inputs segment, which includes WinField Solutions, reports strong performance for the quarter, with strong volumes in alfalfa and favorable seed margins. These effects were partially offset due to strong shipments in the fourth quarter of 2014.
“Overall profits saw a dip in comparison to 2014 first quarter results, primarily due to the cyclical nature of milk prices. This market volatility has had a substantial, negative impact on the first quarter inventory values and financial results,” says Chris Policinski, Land O’Lakes Inc. president and CEO.
“Despite this impact, we are very pleased with the underlying fundamentals of our business as volume, share and new product performance continue to be strong across most all of our portfolio. Our value-added products, continued innovation and growth investments continue to drive solid earnings.”
The Minnesota-based Land O’Lakes is a member-owned cooperative with industry-leading operations that span the spectrum from agricultural production to consumer foods.
A full news release is available here: http://www.landolakesinc.com/utility/news/company/ECMP2-0108844
