Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s biggest meatpacker, reported an 86 per cent drop in third-quarter net income compared to a year ago on Monday, sliding to around 573 million reais (C$166.3 million). Net income was under the LSEG consensus forecast of 724 million reais, and far below the whopping four billion-real […] Read more
Third-quarter profit plunges for JBS
Low U.S. pork prices, beef margins and global chicken glut cited
Bunge lifts outlook as quarterly profit nearly doubles
Reading Time: 2 minutes Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a […] Read more
CN, CP set third-quarter records for grain movement
Reading Time: < 1 minute MarketsFarm — Canada’s big two railways again reported moving record amounts of Canadian grain during the third quarter of 2020. Canadian National Railway (CN) reported Monday it had shipped 7.76 million tonnes of grain by rail, and Canadian Pacific Railway (CP) said Friday it had moved 7.72 million tonnes. For CN that not only marked […] Read more
Third-quarter grain handle down for CN, CP
Reading Time: 2 minutes Canada’s Big Two railways both booked reduced traffic but increased their revenue per carload in their grain handling segments for their third fiscal quarters ending Sept. 30. Canadian National Railway on Tuesday reported third-quarter net income of $1.195 billion on $3.83 billion in total revenues, up from $1.134 billion on $3.688 billion in the year-earlier […] Read more
Input Capital cuts costs as delayed sales lift Q3 profit
Reading Time: 2 minutes A hostile canola export market has left “commodity streaming” firm Input Capital paring back its staff count and halting its sales and marketing efforts. The publicly traded Regina company on Tuesday booked adjusted net income of $1.06 million on $4.95 million in adjusted total revenue for the quarter ending June 30, up from about $249,000 […] Read more
Grain handle down slightly in record quarter for CP
Reading Time: < 1 minute Grain carloads were marginally fewer but grain revenue per carload climbed 10 per cent to help Canadian Pacific Railway to its highest quarterly revenue ever. Calgary-based CP on Oct. 18 booked net income of $622 million on $1.898 billion in revenues — its “highest ever (revenues) for any quarter” — in its third quarter ending […] Read more
Grain handle helps lift CN quarterly revenue
Reading Time: < 1 minute An increase in Canadian grain traffic helped support Canadian National Railway’s third-quarter revenues, though the costs of increased traffic ate at its bottom line. Montreal-based CN on Tuesday reported net income of $958 million on total revenues of $3.221 billion for the quarter ending Sept. 30, down from $972 million on $3.014 billion in the […] Read more
Maple Leaf Q3 profit beats on overall sales growth
Reading Time: < 1 minute Reuters — Maple Leaf Foods, one of Canada’s biggest pork processors, posted a quarterly profit that beat analysts’ estimates, helped by growth across all its businesses. The company, whose brands include Schneiders, Maple Leaf and, since March, Lightlife, said adjusted operating earnings rose to $65.15 million in the third quarter from $61.52 million a year […] Read more
CP’s third-quarter grain handle down
Reading Time: < 1 minute “Volume momentum” in its third quarter has Canadian Pacific Railway looking forward to a rosier year-end ledger, though its grain traffic for the quarter dragged on that momentum. Calgary-based CP on Tuesday reported net income of $510 million on $1.595 billion in revenues for the third quarter ending Sept. 30, up from $347 million on […] Read more
Cargill’s Q3 profit up on ingredient, protein demand
Reading Time: 2 minutes Chicago | Reuters — Global commodities trader Cargill reported a higher quarterly profit on Wednesday as strong earnings from its food ingredients and protein units more than offset lagging results from South American grain trading and processing. The privately held company has been streamlining its operations to focus on higher-margin businesses such as food ingredients […] Read more
A message from April Stewart, Country Guide's Associate Editor
