Agricultural commodity merchant Louis Dreyfus Company recorded a rise in first-half sales, supported by higher volumes shipped, but weaker prices for most crops pushed down profits, it said on Friday.
Tag Archives earnings
Louis Dreyfus posts higher volumes, lower profits in first half
Accounting probe hits ADM as crop glut, lower margins point to tough 2024
ADM shares fell 24 per cent Monday as news of accounting issues broke
An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.
Cargill fiscal 2022 revenue jumps to record US$165 billion
Reuters — Global commodities trader Cargill on Tuesday reported that its fiscal year 2022 revenue jumped 23 per cent from a year earlier to a record US$165 billion. The strong result was the latest for a global agricultural commodities trader after rivals ADM and Bunge reported solid earnings last month amid high farm products prices
Aurora Cannabis to shut one Edmonton plant
Reuters — Aurora Cannabis said Tuesday it will shut down a facility at Edmonton, adding to the woes of the cash-strapped Canadian pot producer which has been reeling under the impact of the pandemic since last year. The company said medical distribution from the Aurora Polaris facility that is being shut down will move to
Louis Dreyfus completes stake sale to ADQ
Deal includes long-term supply line to UAE
Paris | Reuters — Louis Dreyfus Co. (LDC) said on Friday it had completed the sale of a 45 per cent indirect stake to Abu Dhabi holding firm ADQ, marking the arrival of the first non-family shareholder in the agricultural commodity group’s 170-year history. The overall value of the deal was not disclosed but LDC
Deere lifts 2021 forecast on solid equipment demand
Reuters — Deere and Co. on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of strong demand for farm and construction equipment. The world’s largest farm equipment manufacturer now expects net income in fiscal 2021 to be between $5.7 billion and $5.9 billion, up from a range
Nutrien to boost potash output on global demand
Reuters — Fertilizer company Nutrien said Monday it expects to increase potash production by about half a million tonnes in the second half of the year compared to earlier expectations, due to strong global demand. As crop prices rise, farmers have greater incentive to use fertilizer and maximize yields, boosting potash demand and spurring a
ADM beats profit estimates but revenue disappoints
Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts’ expectations and net earnings attributable to the company were 44 per cent lower than a year earlier. Shares were down nearly three per cent
Bunge lifts outlook as quarterly profit nearly doubles
Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a
Corteva posts weak revenue, disappointing outlook
Reuters — Corteva Inc. on Wednesday missed analysts’ expectations for second-quarter revenue and its reinstated full-year forecast came in below estimates, sending the seed and pesticide producer’s shares down as much as nine per cent in extended trade. Good weather and higher planted area shifted corn volumes in North America to the first quarter, while
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