Dive Summary:
- U.S. agricultural giant Cargill has posted a staggering earnings increase in Q2 2013, up 300% from $100 million in 2012, to $409 million.
- This increase came at a time when analysts were expecting a rough quarter due to the ongoing drought in the middle of the U.S. and flawed ethanol subsidies.
- Cargill's food sector was the only area of business that saw a decrease.
From the article:
Cargill has reported a more than 300% increase in year-over-year second quarter net earnings, from $100 in 2012 to $409 million in 2013. The only blemishs on the earnings report were lingering effects from the 2012 drought in the US and overcapacity in the agricultural sector related to US policies to promote the product of ethanol for fuel. "The steps we've taken over the past months to focus attention on what our customers value most, change how we work."
