April 5, 2018 / 1:18 PM / in 4 months

BRIEF-Cargill Reports Q3 Adj Operating Earnings $559 Mln, Down 22%

April 5 (Reuters) - Cargill:

* CARGILL SAYS NET EARNINGS FOR THE QUARTER ON A U.S. GAAP BASIS WERE $495 MILLION COMPARED WITH $650 MILLION A YEAR AGO

* QTRLY ADJUSTED OPERATING EARNINGS WERE $559 MILLION, A 22 PERCENT DECREASE FROM LAST YEAR’S $715 MILLION

* CARGILL SAYS QTRLY REVENUES ROSE 2 PERCENT TO $27.85 BILLION, INCREASING YTD DATE FIGURE TO $84.32 BILLION

* CARGILL SAYS QTRLY EARNINGS INCLUDED A NET CHARGE OF $161 MILLION RELATED TO RECENTLY ENACTED U.S. TAX CUTS AND JOBS ACT

* QTRLY EARNINGS IN ORIGINATION & PROCESSING “EDGED AHEAD” OF LAST YEAR’S MODERATE THIRD QUARTER

* CARGILL SAYS QTRLY EARNINGS IN FOOD INGREDIENTS & APPLICATIONS DECREASED ON MIXED PERFORMANCE

* LARGEST CONTRIBUTOR TO COMPANY EARNINGS IN QUARTER

* QTRLY RESULTS DECREASED SLIGHTLY IN INDUSTRIAL & FINANCIAL SERVICES VERSUS COMPARATIVE PERIOD

* LOWER ETHANOL PRICES IN NORTH AMERICA, HIGHER MANUFACTURING COSTS IN EUROPE TEMPERED RESULTS IN GLOBAL SWEETENERS & STARCHES

* CARGILL SAYS COCOA, CHOCOLATE AND EDIBLE OILS POSTED PERFORMANCE GAINS IN QUARTER

* QTRLY OILSEED PROCESSING RESULTS IN SEVERAL REGIONS WERE POOR BUT WITH AN IMPROVED OUTLOOK AS MARGINS STRENGTHENED AT THE END OF THE PERIOD

* AGO QUARTER DUE TO FACTORS LIKE LOWER PRICING IN SOME MARKETS Source text (bit.ly/2Iv3Uvs) Further company coverage:

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