Reading Time: 2 minutes Reuters — CNH Industrial said on Thursday its 2023 net sales of industrial activities would grow by between six and 10 per cent, after the group posted stronger-than-expected results in the last quarter of 2022. The industry faced several headwinds in 2022, including a choppy supply chain and inflation, but late in the year these […] Read more
CNH sees headwinds easing in 2023 after strong fourth-quarter results
Long-running strikes end at two CNH plants in U.S.
Meatpacker JBS’s plunging profit beats forecasts
Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meat producer, on Thursday said quarterly profit plunged 47.1 per cent, but results still beat analysts’ estimates as higher revenues helped offset shrinking margins in its U.S. beef division. The company posted a third-quarter net profit of 4.01 billion reais (C$1.001 billion), while analysts […] Read more
CF Industries profit soars as sanctions raise fertilizer prices
Reading Time: < 1 minute Chicago | Reuters — CF Industries on Wednesday reported quarterly earnings climbed 485 per cent as the fertilizer maker ramped up U.S. shipments after Russia’s invasion of Ukraine catapulted prices for crop nutrients. Top fertilizer producers including CF, Nutrien and Mosaic Co. have benefited as sanctions on exporters Russia and ally Belarus limited global supplies […] Read more
Nutrien bolsters profit forecast on surging fertilizer prices
Fertilizer sector set for biggest profits in years
Reading Time: 2 minutes Reuters — Nutrien Ltd. on Monday raised its full-year earnings forecast well above estimates after posting a more than 10-fold jump in first-quarter profit, as the world’s largest fertilizer company benefits strongly from soaring prices of crop nutrients. Prices of essential crop nutrients such as potash and phosphate skyrocketed in the quarter, touching near-record levels, […] Read more
Cargill quarterly profit drops on trade tensions, U.S. floods
Reading Time: 2 minutes Chicago | Reuters — Global commodities trader Cargill reported a 41 per cent drop in adjusted quarterly profit on Thursday, citing supply disruptions stemming from the U.S.-China trade war and also flooding in the central United States that hit marketing and transportation of grains and livestock. Cargill, the largest privately held U.S. company, said adjusted […] Read more
Strong beef demand lifts Cargill profit for quarter
Reading Time: 2 minutes Chicago | Reuters — Global commodities trader Cargill reported a 14 per cent rise in quarterly profit on Wednesday as strong beef demand and ample supplies of cattle lifted earnings for its animal nutrition and protein segment for a fifth straight quarter. The gains in protein offset a weaker year-on-year result for Cargill’s origination and […] Read more
Kraft Heinz profits miss on weak demand in Canada, U.S.
Reading Time: < 1 minute Reuters — Kraft Heinz, North America’s third-largest food and beverage company, reported lower-than-expected quarterly profit and sales, hurt by weak demand in the U.S. and Canada. Shares of the company, which owns brands such as Velveeta cheese and Heinz ketchup, were down nearly three per cent at $86.75 in after-hours trading on Wednesday (all figures […] Read more
PotashCorp notches higher profit as sales climb
Reading Time: 2 minutes Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more
Maple Leaf posts higher-than-expected profit
Reading Time: < 1 minute Reuters — Meat-packing company Maple Leaf Foods reported a better-than-expected quarterly profit, driven by increased retail sales in Canada and higher exports. The company, whose brands include Schneiders and namesake Maple Leaf, said adjusted operating earnings rose 10 per cent to $59 million in the first quarter ended March 31. Maple Leaf, which is Canada’s […] Read more
Maple Leaf profit jumps by over 70 per cent
Reading Time: < 1 minute Reuters — Meat processor Maple Leaf Foods on Wednesday reported a 70.4 per cent jump in quarterly profit as lower costs and higher prices boosted earnings at its prepared meats business. Maple Leaf said adjusted operating earnings in its meat products unit, the company’s primary source of income, more than doubled to $65.93 million in […] Read more
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