Cargill eported $1.17 billion in earnings from continuing operations in the 2012 fiscal year, a 56 percent decrease from a record $2.69 billion in the prior year.
Net income in the third quarter dropped to $73 million from $188 million in 2011, though operating income rose from $8.247 billion in 2011 to $8.308 billion this year.
Second-quarter sales were $8.3 billion, up 3.4% compared to last year, while operating income was $302 million, down slightly from last year's $303 million.
Sales for the third quarter of fiscal 2012 were $3.5 billion, up 9%, resulting from higher average unit selling prices and volumes in the Pork segment.
For the quarter, the company had a net loss of $8.0 million, or $0.36 per share, compared with a net loss of $33.6 million, or $1.52 per share, for the first quarter of fiscal 2011.
"We are very pleased with our results for the year and we remain on track to deliver our earnings and margin growth for 2012 through 2015," said Michael H. McCain, president and CEO.
Sara Lee Corp. today reported earnings for the first quarter and updated the progress of the spinoff of the company’s international coffee & tea business.
