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National & World Ag News Headlines |
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Land O'Lakes Reports First Quater Earnings
USAgNet - 05/04/2016
Land O'Lakes announced first quarter financial results, reporting quarterly net sales of $3.6 billion and net earnings of $104 million, up from $99 million in 2015.
"Coming off of a record year in 2015, performance remains strong in the first quarter of 2016 despite continued challenging market conditions," stated Chris Policinski, Land O'Lakes, Inc. president and CEO. "Building on our strategy and momentum, we
continue to invest in core growth, new markets and step up our innovation. In an environment of increasing industry consolidation, we are expanding our presence and capabilities to provide value to our farmer-owners to help them compete in this great growth
industry."
Land O'Lakes Winfield US recently announced the company signed a letter of intent to enter into a supply agreement with Southern States Cooperative, Inc. With the agreement, Winfield US will exclusively provide a majority of crop inputs requirements to
Southern States' network of 1,200 retail locations located in the Eastern U.S. beginning in crop year 2017.
Overall first quarter results in Crop Inputs, which includes the WinField and United Suppliers branded portfolios, were impacted by lower volumes across their seed and crop protection products.
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