Black Kassel - Snack like Royalty
Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
Cargill Boasts Increased Profits in Q1 Financial

Cargill Boasts Increased Profits in Q1 Financial


MINNEAPOLIS, MN
Wednesday, October 5th, 2016

Seeing balanced increases across most of its business, Cargill has released its Q1 report for 2017 in tandem with a new product line announcement. 

David MacLennan, Chairman and Chief Executive Officer, Cargill"We posted a strong start to the new fiscal year," said David MacLennan, Cargill's Chairman and Chief Executive Officer. "We've been charting a new path to higher performance, and it's rewarding to see the many changes we've made resulting in gains across much of the company."

The company stated in a press release that its first quarter ended on August 31 of this year, and saw the following notable movement in comparison to last year’s results for this time period:

  • Adjusted operating earnings rose 35 percent from $611 million to $827 million
  • Net earnings on a U.S. GAAP basis up 66 percent to $852 million from $512 million
  • Revenues down slightly to $27.1 billion from $27.5 billion

Cargill noted that the variance between its adjusted and net earnings was largely due to timing differences in association with inventory, derivatives, and hedging. MacLennan also asserted that Cargill’s recent acquisitions have allowed the company to improve its efficiency, supply chains, and cost structures. 

Cargill Food Innovation Center in Minneapolis, Minnesota

"These actions are making us more competitive and equipping us to serve a broadening range of customer needs," continued MacLennan. 

Cargill also reported that its Animal Nutrition & Protein segment saw results that were a steep increase from last year’s results, noting profitability led by the beef business and aided by poultry. Earlier this year, Cargill acquired Five Star Custom Foods to expand its protein portfolio. 

Other noted increases to the company’s financial offerings were earnings for its Origination and Processing segment, improved earnings in Food Ingredients & Applications, and additional profits in Industrial & Financial Services.

Cargill intends to keep a focus on sustainability, food security, and nutrition to further its growth, including foreign markets as well with a new partnership with Qingshen in southwestern China. 

Cargill also announced a new Regal™ line of bakery shortenings that the company will unveil during the International Bakery Innovation Expo. The line includes an Icing, Donut Fry, Puff Pastry, Cake & Icing, and All-Purpose Shortening. 

"We have been providing shortenings to the bakery industry for a long time," said Janet Bones, R&D Vice President for Cargill Global Edible Oil Solutions. "However, we took a hard look at our portfolio and saw opportunities to better meet the needs of our bakery customers. These five products represent the beginning of our journey, as we have additional innovative offerings in our pipeline."

The company stated that it will continue to feature insights from its customers cultivated alongside its experts at Cargill’s Minneapolis-based Innovation Center to develop and customize solutions for consumers.

As the company continues to innovate and expand, count on Deli Market News for the latest.

Cargill


Black Kassel - Snack like RoyaltyEiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature

Have a new product, press release or story idea?

Let us know

In This Story


Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our...

Charlotte-Based Hissho Sushi Makes N.C. Mid-Market Fast 40 List

This year marks 20 years since Hissho Sushi was founded in Charlotte, NC.
View Press Release

Anheuser-Busch Inbev & DS Smith Plastics Named 2018 Excellence in Reusable Packaging Award Winners

RPA announces two winners in the 2018 Excellence in Reusable Packaging award program.
View Press Release

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release

Apex to Represent Ice-O-Matic® in MAFSI Territory 16 & 19

Sales and sales support coverage by the global ice machine manufacturer now includes multiple states in the Midwestern U.S. with personnel in four major cities.
View Press Release

HNINA Receives Chocolatier's Award

International Chocolate Salon honors Vanessa (Hnina) Morgenstern-Kenan with The Chocolatier's Award.
View Press Release

Pilgrim’s ® Teams Up with Kroger® to Donate 750,000 Meals to Support Florence Recovery Efforts

The joint effort will distribute 750,000 meals to families and local communities in the Carolinas recovering from the natural disaster that made landfall on Sept. 14.
View Press Release