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Cargill results bounce back strong in first quarter
October 11, 2012 / 1:25 PM / 5 years ago

Cargill results bounce back strong in first quarter

Oct 11 (Reuters) - Giant agribusiness firm Cargill Inc said on Thursday that quarterly earnings rose strongly, with all five of its main business segments contributing, but cautioned that the impact of the worst U.S. drought in a half century was still unfolding.

Minneapolis-based Cargill, one of the world’s largest privately held corporations, reported net earnings of $975 million for the first quarter of fiscal 2013 ended Aug. 31, versus $236 million for the same quarter a year ago. The earnings compared with $73 million in profit for the March-May quarter, the lowest quarterly earnings for the company since 1991.

Revenues for the first quarter were $33.8 billion compared with $34.6 billion in the year-earlier period, the company said in a statement.

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