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Screengrab from a CNH promotional video of its Magnum tractor assembly plant at Racine, Wisconsin. (CNH video)
Crops

CNH sees headwinds easing in 2023 after strong fourth-quarter results

Long-running strikes end at two CNH plants in U.S.

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Reuters — CNH Industrial said on Thursday its 2023 net sales of industrial activities would grow by between six and 10 per cent, after the group posted stronger-than-expected results in the last quarter of 2022. The industry faced several headwinds in 2022, including a choppy supply chain and inflation, but late in the year these
CF Industries’ UAN plant at Donaldsonville in Louisiana. The company also makes UAN at plants in Ontario, Iowa and Oklahoma. (Thyssenkrupp-industrial-solutions.com)
Crops

CF Industries profit soars as sanctions raise fertilizer prices

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Chicago | Reuters — CF Industries on Wednesday reported quarterly earnings climbed 485 per cent as the fertilizer maker ramped up U.S. shipments after Russia’s invasion of Ukraine catapulted prices for crop nutrients. Top fertilizer producers including CF, Nutrien and Mosaic Co. have benefited as sanctions on exporters Russia and ally Belarus limited global supplies
(Nutrien video screengrab via YouTube)
Crops

Nutrien bolsters profit forecast on surging fertilizer prices

Fertilizer sector set for biggest profits in years

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Reuters — Nutrien Ltd. on Monday raised its full-year earnings forecast well above estimates after posting a more than 10-fold jump in first-quarter profit, as the world’s largest fertilizer company benefits strongly from soaring prices of crop nutrients. Prices of essential crop nutrients such as potash and phosphate skyrocketed in the quarter, touching near-record levels,
(KraftHeinzCompany.com)
Crops

Kraft Heinz profits miss on weak demand in Canada, U.S.

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Reuters — Kraft Heinz, North America’s third-largest food and beverage company, reported lower-than-expected quarterly profit and sales, hurt by weak demand in the U.S. and Canada. Shares of the company, which owns brands such as Velveeta cheese and Heinz ketchup, were down nearly three per cent at $86.75 in after-hours trading on Wednesday (all figures
(Dave Bedard photo)
Crops

PotashCorp notches higher profit as sales climb

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Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices
(Dave Bedard photo)
Livestock

Maple Leaf posts higher-than-expected profit

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Reuters — Meat-packing company Maple Leaf Foods reported a better-than-expected quarterly profit, driven by increased retail sales in Canada and higher exports. The company, whose brands include Schneiders and namesake Maple Leaf, said adjusted operating earnings rose 10 per cent to $59 million in the first quarter ended March 31. Maple Leaf, which is Canada’s
(Dave Bedard photo)
Hogs, Livestock

Maple Leaf profit jumps by over 70 per cent

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Reuters — Meat processor Maple Leaf Foods on Wednesday reported a 70.4 per cent jump in quarterly profit as lower costs and higher prices boosted earnings at its prepared meats business. Maple Leaf said adjusted operating earnings in its meat products unit, the company’s primary source of income, more than doubled to $65.93 million in

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