Cargill reports third-quarter results

Cargill today reported net earnings of $1.03 billion in the 2008 third quarter ended Feb. 29, up 86% from $553 million in the same period a year ago. Earnings in the first nine months totalled $2.9 billion, a 69% increase from $1.71 billion a year ago.

Greg Page, Cargill chairman and chief executive officer said Cargill's global assets, market insight, diversification and risk management skills have served the company well. "Our business model gives us the wherewithal to remain customer focused in a very challenging operating environment."

Four of Cargill's five business segments increased earnings from the third quarter a year ago. The largest earnings contribution came from the origination and processing segment, which sources, processes and distributes agricultural commodities and provides supply chain and risk management services to customers globally. Results in agriculture services rose mostly on the improved performance of Cargill's global animal nutrition operations.

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