Company News

BRIEF-Cargill reports ‍Q1 gaap net earnings of $973 mln

Sept 27 (Reuters) - Cargill:

* Quarterly adjusted operating earnings totaled $888 million, exceeding by 7 percent $827 million earned in last year’s strong comparative period

* Quarterly net earnings on a U.S. gaap basis were $973 million, up 14 percent from $852 million a year ago

* Quarterly revenues totaled $27.3 billion, edging ahead of last year’s $27.1 billion

* Quarterly protein results in North America lifted by brisk consumer demand for beef, strong exports, more abundant cattle supplies

* Food Ingredients & Applications was second-largest contributor to company’s quarterly earnings

* In quarter, Industrial & Financial Services segment was down slightly from last year

* Rising production and building global stocks for grain, oilseeds during last four crop cycles depressed market volatility, commodity prices Source text for Eikon: Further company coverage: