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Land O'Lakes sees rise in earnings while B&G Foods sees profits fall

Land O'Lakes
Chris Policinski, president and CEO of the US agri-food business Land O'Lakes, commented on the rise in earnings: "Despite strong headwinds and volatility in commodities, Land O'Lakes continues to grow based on smart investments and a focused strategy."

Nine months to 30 September
  • Sales up 2.3% at US$10.2bn
  • Earnings from operations up 4.7% at $302.2m
  • Net earnings up 9.7% at $270.3m
B&G Foods
The New Jersey-based owner of the Green Giant range saw both third-quarter and nine-month sales increase and raised its full-year guidance to US$1.66bn to US$1.685bn. 

Nine months to 30 September
  • Nine-month sales rose 22% to US$1.19bn (Q3 up 28% at $408m)
  • Adjusted EBITDA climbs 1.8% to $264m (excludes impact of acquisition-related inventory step-up, related expenses and loss on sale of assets)
  • Net income drops 8.7% to $87.6m
  • Reaffirms adjusted EBITDA guidance at $352.5m to $367.5m 

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