Things are going quite well for Cargill. The company reports net earnings of $409 million for the fiscal quarter ending Nov. 30, more than quadruple the $100 million earned in the same quarter a year ago.
Sales for the quarter totaled $35.2 billion up 6 percent from a year ago.
For the first six month of its fiscal year, Cargill is reporting sales of $69 billion with earnings of $1.38 billion compared to $336 million a year ago.
The company says part of the reason the quarter looked so good is because the same quarter last year was so bad. Four of the company’s five business areas saw earnings increase. The food ingredients sector was the only one to see a decline in profit as losses in ethanol more than offset increases in the global meat business.
The company also reporting it has $2.4 billion in large capital improvement projects under construction in 13 countries.