Land O'Lakes, Inc. Announces First Quarter Results

ARDEN HILLS, MN

Land O’Lakes has announced its Q1 2015 financial results, reporting net sales of $3.8 billion and net earnings of $99.4 million.

"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," said Chris Policinski, President and CEO of Land O'Lakes. "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."

Other highlights from the report include:

• Net earnings for Q1 2015 were $99,175.
• Strong results from Purina Animal Nutrition animal feed.
• Pre-tax earnings increased significantly over Q1 2014
• Strong volumes in alfalfa and favorable seed margins

According to a press release, the company's dairy foods segment was affected by declining global milk powder and cheese markets but saw strong performance in the company's butter products and high volumes and margin strength in Foodservice.

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Land O'Lakes