Arden Hills, Minn. — Land O’Lakes Inc. (LOL) said Crop Input results were better than expected for the first quarter due to an early spring and stronger demand. However, overall performance for the company was called “solid, but mixed.” First-quarter net earnings were off 16 percent, to $85 million from the year-ago $101 million, but sales were up 12 percent, to $3.9 billion from $3.5 billion. LOL said the $85 million earnings represented the second-best first quarter for the company. Earnings were up for Crop Inputs and Feed, but off for Dairy Foods and Layers/Eggs. Net sales were up in all business units.
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