Land O'Lakes delivers strong Q3 results

Cooperative reports $54 million year-over-year earnings increase.

November 5, 2020

2 Min Read
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Land O'Lakes

Land O'Lakes Inc., a member-owned cooperative and one of America's premier agribusiness and food companies, reported net sales of $2.9 billion and net earnings of $66 million for the third quarter ending Sept. 30, 2020, compared with net sales of $3.0 billion and net earnings of $12 million during the third quarter of 2019.

Every business unit performed better this quarter than in the previous year, the company noted. Year-to-date net sales totaled $10.3 billion, with net earnings at $184 million, compared to net sales of $10.3 billion and net earnings of $151 million during the same period in the prior year.

“I am grateful for the engagement, agility and commitment of the Land O'Lakes team that delivered remarkable performance in the face of the most rapidly changing market dynamics in recent memory,” Land O'Lakes president and chief executive officer Beth Ford said. “While the health and safety of our employees and members remains our first priority, strong performance like this enables us to innovate and expand beyond the traditional boundaries of food and ag.”

Earnings improved by $54 million in the third quarter due to strong performance across the portfolio.

Dairy Foods earnings were higher due to continued strength in retail, which more than offset lower volumes in foodservice and commodity market volatility due to impacts of the COVID-19 pandemic.

Animal Nutrition earnings improved due to higher sales and a favorable product mix in the lifestyle segment.

Crop Inputs earnings were also higher for the quarter due to improved seed performance, lower working capital resulting in lower debt financing costs and other targeted cost reductions. Ending liquidity was $847 million, up 70% from prior-year levels.

With corporate headquarters located in Arden Hills, Minn., Land O'Lakes' operations span the spectrum from agricultural production to consumer foods. Land O'Lakes is one of the nation's largest cooperatives, with brands in agribusiness and food production that include Land O'Lakes Dairy Foods, Purina Animal Nutrition, WinField United and Truterra. The company had 2019 annual sales of $14 billion and does business in all 50 states and more than 60 countries.

More information about Land O'Lakes' 2020 performance can be found at

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