earnings Archives - Page 2 of 4

Bunge lifts outlook as quarterly profit nearly doubles

By GFM Network News October 29, 2020

Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a […] Read more

Corn, Crops, Markets, Reuters

Corteva posts weak revenue, disappointing outlook

By GFM Network News August 6, 2020

Reuters — Corteva Inc. on Wednesday missed analysts’ expectations for second-quarter revenue and its reinstated full-year forecast came in below estimates, sending the seed and pesticide producer’s shares down as much as nine per cent in extended trade. Good weather and higher planted area shifted corn volumes in North America to the first quarter, while […] Read more

John Deere in October announced updates to its 7R tractor line for 2020, including the 7R 210 shown here. (Deere.ca)

General, Machinery, Reuters

Deere bets on cost cuts, services push to boost profits

By GFM Network News January 8, 2020

Chicago | Reuters — Deere and Co. on Wednesday said it will cut costs and ramp up investment in data-driven agriculture technology and its services business to make itself more profitable. In a pitch to investors, CEO John May said the measures are expected to boost operating profit margin to 15 per cent by 2022 […] Read more

A photo from John Deere’s Sept. 17, 2019 rollout of its 6M tractor series for 2020. (Deere.ca)

Crops, Machinery, Reuters

Deere to lay off 163 U.S. workers as trade war dents demand

By GFM Network News October 1, 2019

Chicago | Reuters — Deere and Co. on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand. The layoffs come week after the company said it would reduce production by 20 per cent at its facilities in Illinois […] Read more

Crops, Reuters

Cannabis firm Tilray sees growth slowing

By Reuters, GFM Network News August 14, 2019

Reuters — Pot producer Tilray Inc. reported a wider-than-expected quarterly loss on Tuesday, as it ramped up investments to boost production and warned of muted growth in the Canadian recreational marijuana market for the second half of the year. Shares of the Nanaimo, B.C.-based company fell eight per cent after hours. Canada in October became […] Read more

Elanco Animal Health CEO Jeff Simmons speaks during an interview at the New York Stock Exchange (NYSE) on Sept. 20, 2018. (Photo: Reuters/Brendan McDermid)

Livestock, Reuters

Bayer, Elanco said aiming to reach animal health deal next week

By Reuters, GFM Network News August 7, 2019

Reuters — Germany’s Bayer and U.S. drug firm Elanco Animal Health aim to reach an agreement to combine their animal health businesses as soon as next week, Bloomberg reported Wednesday, citing people with knowledge of the matter. Elanco plans to pay for at least a part of the deal with its stock and any deal […] Read more

Crops, Markets, Reuters, Weather

Major grain traders face one-two punch from U.S. floods, trade war

By GFM Network News July 11, 2019

Chicago | Reuters — Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland and Bunge for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said. ADM and Bunge, as well as peers Cargill and Louis Dreyfus, known as the ABCD quartet of […] Read more

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Crops, Reuters

Weed leader Canopy Growth ousts co-CEO

By GFM Network News July 3, 2019

Corrected, Aug. 27, 2019 — Reuters — Canopy Growth Corp. fired founder and co-CEO Bruce Linton, a surprise move that comes just a week after the Canadian cannabis producer’s largest shareholder expressed disappointment over its loss-making streak. The world’s largest pot company announced earlier in the day that Linton was stepping down, leaving Mark Zekulin […] Read more

Crops, Markets, Reuters

Bunge moves from regional to global operating model

By GFM Network News May 9, 2019

Chicago | Reuters — U.S. agricultural commodities trader Bunge on Wednesday overhauled its global operations and named a new chief financial officer in the latest shake-up for the 200-year-old company hard hit by a years-long grain market downturn. The moves come as Bunge reported a stronger-than-expected first-quarter profit due to higher soy crush margins in […] Read more

Livestock, Markets, Reuters

JBS predicts profits will be stronger this year

By GFM Network News March 29, 2019

Sao Paulo | Reuters — JBS SA executives said Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the U.S. and Australia as well as growing Chinese demand for various proteins. Still, first-quarter results will reflect lower cattle availability in the U.S. due to rains and a […] Read more

U.S. livestock: Cattle markets up ahead of report

U.S. grains: Soybean futures fall after Trump-Xi call

Prairie Wheat Weekly: Western Canadian bids slightly decline

GFM Network News