Land O'Lakes, Inc. reports results for first quarter 2019

ARDEN HILLS, Minn. (May 2, 2019) – Land O’Lakes, Inc. today reported net sales of $3.5 billion and net earnings of $64 million for the first quarter ending March 31, 2019, compared with net sales of $3.9 billion and net earnings of $116 million during the first quarter of 2018.

“These first quarter results are positive news for our cooperative and our member-owners in light of a disrupted environment and economic headwinds facing the agriculture sector,” said Beth Ford, president and CEO of Land O’Lakes, Inc. “While earnings were down, WinField United had a strong quarter as farmers returned to the fields and Dairy performance, while affected by a late season Easter, finished the quarter with strong momentum.”

Animal Nutrition earnings were lower due to a decline in premix margins, which benefited from elevated vitamin markets during the first quarter of 2018, as well as lower livestock volumes, which were impacted by weather conditions and producer economics. Earnings in Dairy Foods were also lower largely due to a later Easter in 2019, which shifted innovative dairy product shipments into the second quarter. Performance in Crop Inputs improved due to favorable product mix and lower overall administrative costs.

More information about the company’s 2019 performance can be found at www.landolakesinc.com/investors.