Several agriculture companies are reporting their first-quarter earnings. Among them is Land O’Lakes.
The company reports their earnings have tripled during the first three months of the year, with company leaders saying the reopening of businesses is lifting the demand for dairy products. Net earnings surged to $136 million, up from the $37 million earned during the first-quarter last year. Additionally, sales rose 4% to $3.9 billion.
According to Bloomberg, Land O’Lakes is reaping benefits as U.S. restaurants and schools reopen amid easing pandemic restrictions, which is bolstering the market for dairy products. At the same time, the biggest grains market rally since 2013 is prompting U.S. farmers to plant more crops, which is helping its segment that sells crop nutrients, herbicides and seed treatments.
