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Land O'Lakes Net Sales Totals $3.9 Billion in First Quarter 2021
USAgNet - 04/30/2021

Land O'Lakes, Inc. reported net sales of $3.9 billion and net earnings of $136 million for the first quarter ending March 31, 2021, compared to net sales of $3.8 billion and net earnings of $37 million in 2020.

Each business unit delivered strong results and increased net earnings compared to the prior year.

"The operating environment and fundamentals are strong in each business segment," said Beth Ford, president and CEO of Land O'Lakes, Inc. "The Ag sector is bolstered with our agronomic leadership in Winfield United, rising grain prices, and farmers investing in their crops in preparation for spring planting, and is well-positioned to take advantage of the most favorable market environment since 2014.

Net sales across the company were up 4 percent compared to the prior year with volume growth in each of the core business segments.

Dairy Foods earnings were higher due to continued volume strength in Retail and improved margins in the Global Dairy Ingredients business.

Crop Inputs earnings improved due to higher volumes and favorable product mix in Crop Protection Products, in advance of spring planting.

Animal Nutrition earnings were also higher for the quarter due to volume growth in both Lifestyle and Livestock Feed.

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