Arden Hills, Minn.—Land O’Lakes Inc. reported record net earnings for the year ending Dec. 31, 2015, of $307.6 million on net sales of $13 billion, up from 2014’s $266.5 million and $14.7 billion, respectively. “Delivering record earnings in the current market environment underscores the strength of Land O’Lakes core business strategy,” said Chris Policinski, president and CEO. “This was a record year for Land O’Lakes in spite of challenging commodity markets, declining on-farm income, and increasing industry consolidation. Additionally, we completed the largest merger in our company history and extended our global reach to Africa.” In 2015, LOL merged its Winfield Solutions LLC with United Suppliers Inc.’s crop protection and seed business. LOL expects to merge with United Suppliers crop nutrient business in the fall of 2017. Also in 2015, LOL purchased a majority ownership stake in Villa Crop Protection, based in South Africa, which is LOL’s first commercial investment in Africa. The Crop Inputs unit in 2015 reported net sales of $4.8 billion, down from the year-ago $4.9 billion. Pretax earnings were $189.6 million, down from 2014’s $220 million. LOL said low commodity prices impacted results across the portfolio and were offset to some extent through strength in Croplan corn, soybeans, and alfalfa. LOL-wide, fourth-quarter earnings were up at $119.4 million on sales of $3.3 billion, compared to the year-ago $38.3 million and $3.5 billion, respectively. LOL said all three major units – Crop Input, Dairy, and Feed – delivered strong quarterly earnings well ahead of year-ago figures.
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