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Land O’Lakes reports strong 3rd quarter

Minnesota-based Land O’Lakes saw stronger third-quarter earnings compared to a year ago.

The agribusiness and food company reported net earnings of $47.5 million, significantly higher than the $8.1 million earned during the third quarter of 2016.

Land O’Lakes CEO Chris Policinski attributed the strong performance to smart investments and a focused strategy, saying the merger between Winfield and United Suppliers provided opportunities to lower costs and improve pricing and service for its members.

Its crop inputs and animal feed divisions were most profitable, but financial gains were partially offset by losses in dairy as well as investment in the Land O’Lakes SUSTAIN initiative.

Year-to-date earnings, at more than $270 million, are also ahead of last year’s $246 million heading into the fourth quarter.