Strongest third-quarter net earnings since 2014; $50 million of additional owner equity redemptions authorized in 2021
推荐几个靠谱的买球网站 Inc., the nation’s leading agribusiness cooperative, today released results for its fiscal third quarter ended May 31, 2021. The company reported net income of $273.6 million compared to $97.6 million in the third quarter of fiscal year 2020, an increase of 180.2%. Significant year-over-year earnings growth in all business segments – Energy, Ag and Nitrogen Production – and Corporate and Other businesses each contributed to the increase.
Reflecting strong company performance, 自2020年12月推荐几个靠谱的买球网站年会上以来，推荐几个靠谱的买球网站董事会已批准向成员合作社和个人所有者额外赎回5000万美元的股权. 这一增长是在2020年年会上宣布的3300万美元批准股票赎回的增量, for a total of $83 million in planned owner equity redemptions in fiscal 2021. A distribution of $30 million in cash patronage was also made to owners in early calendar 2021, based on business transacted with 推荐几个靠谱的买球网站 in fiscal 2020.
“Robust performance across 推荐几个靠谱的买球网站 resulted in a very strong third quarter,” said Jay Debertin, president and CEO of 推荐几个靠谱的买球网站 Inc. “全球农产品市场需求强劲，买球比较靠谱的网站一直在努力提高整个供应链的效率 higher volumes in nearly every business area, significantly improving our Ag segment earnings compared to the prior year’s third quarter.
“随着限制的放松和疫苗接种工作的进展，买球比较靠谱的网站也看到大流行复苏的势头日益增强, which has had a favorable impact on our Energy segment results and overall performance.”
Fiscal 2021 third-quarter highlights
- Revenues of $10.9 billion grew 50.9% from $7.2 billion in the third quarter of fiscal 2020.
- 与2021财年第二季度和上一财年第三季度相比，所有业务部门(包括企业和其他业务)的收益增长了40%以上.
Energy segment results
- Improved refined fuels margins resulted in fiscal 2021 third quarter margin gains, as did the absence of a $42.3亿美元的非现金费用，以减少成品油库存到其市场价值，这影响了去年第三季度, but did not reoccur in the third quarter of fiscal 2021.
- 公司精炼燃料业务利润率的提高部分被可再生买球比较靠谱的网站信贷价格的大幅上涨所抵消，后者对利润率产生了约82美元的负面影响.0 million, 由于去年确认的对冲收益逆转，加拿大重质原油的定价不太有利，丙烷的利润率下降.
- Overall, revenues increased by 24.2% and earnings increased by $59.6 million over the fiscal 2021 second quarter, reflecting volume and margin recovery from the effects of the pandemic.
Ag segment results
- Strong global demand drove commodity prices higher, 美国与外国贸易伙伴之间贸易关系的改善导致谷物和油籽的持续增长, which significantly improved Ag segment earnings compared to the prior year’s third quarter.
- 较高的整体利润率部分被某些加工和食品配料产品按市值计价的亏损所抵消, which the company expects to reverse over time.
- Lower volumes of feed and farm supplies were partially offset by increased volumes for agronomy products, stemming from stronger demand due to favorable weather conditions, compared with the previous year’s third quarter.
Other focus areas
- 由于尿素和硝酸铵销售价格上涨，收入增加，本季度氮生产部门收益增加.
- 有利的食用油市场条件和与疫情早期相比销量的复苏，推动公司通过投资文图拉食品公司(Ventura Foods)大幅增加收入, LLC.
- Focused cost-reduction initiatives, launched in fiscal 2021, continued to gain traction in reducing year-to-date marketing, general and administrative expenses.
- 随着大流行限制的解除，该公司开始将员工全部或混合调回其全球办事处. The costs of these activities are not expected to be material.
For the nine months ended May 31, 2021, 推荐几个靠谱的买球网站 reported net income of $305.0 million versus $401.0 million for the same period in fiscal 2020.
“买球比较靠谱的网站对全球经济的整体改善以及推荐几个靠谱的买球网站在整个企业中更有效地开展工作的举措所获得的积极动力感到鼓舞,” said Debertin. “We are optimistic conditions will continue to improve over the next 12 months. 买球比较靠谱的网站员工的韧性和他们对业主和客户的承诺一直鼓舞人心，买球比较靠谱的网站期待着未来和继续分享成功.”
推荐几个靠谱的买球网站 Inc. (ybd7.ans-trading.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, 推荐几个靠谱的买球网站 is committed to creating connections to empower agriculture, helping its farmer-owners, customers and other stakeholders grow their businesses through its domestic and global operations. 推荐几个靠谱的买球网站 supplies energy, crop nutrients, seed, crop protection products, grain marketing services, production and agricultural services, animal nutrition products, foods and food ingredients, and risk management services. The company operates petroleum refineries and pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document and other 推荐几个靠谱的买球网站 Inc. publicly available documents contain, and 推荐几个靠谱的买球网站 officers and representatives may from time to time make, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on 推荐几个靠谱的买球网站 current beliefs, expectations and assumptions regarding the future of its businesses, financial condition and results of operations, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, 难以预测的风险和环境变化，其中许多不在卫生服务中心的控制范围之内. 推荐几个靠谱的买球网站的实际结果和财务状况可能与前瞻性陈述中所示的有重大差异. Therefore, you should not place undue reliance on any of these forward-looking statements. 可能导致推荐几个靠谱的买球网站实际结果和财务状况与前瞻性陈述中显示的重大差异的重要因素在推荐几个靠谱的买球网站提交给美国的文件中进行了讨论或确定.S. Securities and Exchange Commission, 包括在截至8月31日的财政年度推荐几个靠谱的买球网站年度报告10-K表格第1A项的“风险因素”讨论中, 2020, and Item 1A of Part II of 推荐几个靠谱的买球网站 Quarterly Report on Form 10-Q for the quarterly period ended May 31, 2021. These factors may include: changes in commodity prices; the impact of government policies, mandates, regulations and trade agreements; global and regional political, economic, legal and other risks of doing business globally; the impact of the ongoing COVID-19 outbreak or other similar outbreaks; the impact of market acceptance of alternatives to refined petroleum products; consolidation among our suppliers and customers; nonperformance by contractual counterparties; changes in federal income tax laws or our tax status; the impact of compliance or noncompliance with applicable laws and regulations; the impact of any governmental investigations; the impact of environmental liabilities; actual or perceived quality, safety or health risks associated with our products; the impact of seasonality; the effectiveness of our risk management strategies; business interruptions and casualty losses; the impact of workforce factors; our funding needs and financing sources; changes in the method of determining, or the replacement of, LIBOR; technological improvements that decrease the demand for our agronomy and energy products; our ability to complete, integrate and benefit from acquisitions, strategic alliances, joint ventures, divestitures and other nonordinary course-of-business events; security breaches or other disruptions to our information technology systems or assets; the impact of our environmental, social and governance practices; the impairment of long-lived assets; and other factors affecting our businesses generally. 推荐几个靠谱的买球网站在本文件中所作的任何前瞻性陈述仅基于推荐几个靠谱的买球网站目前可获得的信息，且仅在陈述当日有效. 推荐几个靠谱的买球网站 undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise except as required by applicable law.
