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Shining Light on Farm & Food Policy for 20 Years.
Monday, April 29, 2024
Tyson Foods pointed to measures it’s taking to increase efficiencies in a challenging meat market as it reported lower sales for fiscal 2023’s fourth quarter and projected flat sales in 2024.
Corteva and Syngenta, two major seed and crop protection companies, reported lower overall sales for their third quarters but higher sales of seeds, as they look to navigate what one of their CEOs called “complicating geopolitical, macroeconomic and ag-specific factors.”
Bayer says it’s looking to restructure its business and trim management after reporting poor financial results for the latest quarter, largely driven by the performance of its Crop Science Division.
Corteva Agriscience said market penetration of its Enlist E3 soybeans reached 45% of total acres in North America in 2022 as it reported net sales for the year of $17.46 billion, 11% higher than 2021.
Higher herbicide prices driven by supply shortages helped drive Bayer earnings above analysts’ estimates for the third quarter, as the company’s crop science division achieved an overall sales increase of 8.4% from the third quarter in 2021, to more than $4.7 billion.
After earning $4.68 billion so far this year, Deere & Company announced today that it is raising its fiscal year net income projections to between $5.7 and $5.9 billion.
Archer Daniels Midland Co. reported net earnings of $712 million for its second quarter on Tuesday, a 27% increase from the same period the year prior.
Nutrien reported a third-quarter loss of $1.03 per share primarily related to an $823 million writedown of its phosphate assets, compared to earnings of $141 million for the same quarter a year ago, but otherwise had a good quarter, the company said.
