Dive Brief:

• Cargill reported net earnings of $512 million for the fiscal 2016 first quarter ended August 31, after a net loss of $51 million in the fiscal 2015 fourth quarter due to corporate level charges. This year's net earnings are a 20% increase from last year’s $425 million. 
• First quarter revenues were $27.5 billion, compared to fourth-quarter revenues of $28.4 billion, and dipped 17% from $33.3 billion last year. First-quarter adjusted operating earnings were $611 million, compared with $619 million a year ago. 
• "Cargill posted a productive start to the new fiscal year, led by solid performance globally in grain and oilseeds processing and animal nutrition," said David MacLennan, chairman and CEO.

Dive Insight:

The company's success in the quarter, according to analysts, means competitors Archer Daniels Midland and Bunge's less-than-stellar earnings are not a huge deal in the long-term, reports Reuters.

Cargill's origination and processing segment contributed most to the company's earnings, with adjusted operating earnings up slightly from a year ago. Adjusted operating earnings in the company's other three segments (animal nutrition and protein, food ingredients and applications, and industrial and financial services) were down.

In August, Cargill completed its acquisition of ADM's chocolate business and also acquired EWOS, a Norwegian fish feed producer.