Agricultural company Cargill Inc. said its profit slid 29 percent in the most recent quarter after year-earlier figures were buoyed by one-off gains, though meat operations delivered strong results.
Wayzata-based Cargill said net earnings were $986 million, down from the prior-year period when the company booked gains after selling its U.S. pork operations and a stake in a steelmaking venture. Revenue declined 1 percent to $26.9 billion.
Excluding those gains and other one-off events, Cargill said its earnings climbed 80 percent to $1.03 billion compared with the same quarter a year earlier.
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