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1ST HALF: CARGILL'S REVENUES DOWN 1%, NET EARNINGS DOWN 3%
Source: Cargill news release

To view the complete report, click here.

Cargill today reported financial results for the fiscal 2017 second quarter and first half ended Nov. 30, 2016.

"We are energized by the results across our businesses, which are due to the hard work and commitment of our teams worldwide," said David MacLennan, Cargill's chairman and chief executive officer. "Our increased profitability gives us confidence that we are achieving the broad-based structural improvements we have sought."

The Animal Nutrition & Protein segment was the largest contributor to adjusted operating earnings in the second quarter, with results up notably from the prior year. The North American protein group delivered strong performance across its product lines. Thanksgiving holiday demand boosted whole-bird sales in the turkey business, while a more normalized cattle supply, optimized production and healthy consumer demand contributed to a recovery in beef from last year's low.

The egg business continued to see strong sales volume in foodservice. The segment's global poultry group improved on last year's second quarter, led by good results in Asia. Second-quarter earnings in global animal nutrition were essentially even with last year, due to a mix of largely offsetting factors around the globe.


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