Ceres Global Ag Corp. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 14, 2024 at 07:06 am
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Ceres Global Ag Corp. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 282.2 million compared to USD 283.03 million a year ago. Net income was USD 2.67 million compared to net loss of USD 1.27 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to basic loss per share from continuing operations of USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.04 a year ago.
For the six months, sales was USD 498.2 million compared to USD 543.14 million a year ago. Net income was USD 8.88 million compared to net loss of USD 4.86 million a year ago. Basic earnings per share from continuing operations was USD 0.29 compared to basic loss per share from continuing operations of USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to diluted loss per share from continuing operations of USD 0.16 a year ago.
Ceres Global Ag Corp. is a global agricultural, energy and industrial products merchandising and supply chain company. The Company and its subsidiaries serve agricultural, energy and industrial supply chains through sourcing, storing, transporting and marketing of agricultural commodities, value-added products and raw materials. Its segments include Grain, Supply Chain Services, and Seed and Processing. Its Grain segment is engaged in grain procurement and merchandising of specialty grains and oilseeds such as oats, barley, rye, hard red spring wheat, durum wheat, canola, and pulses. The Supply Chain Services segment utilizes its facilities to provide logistics services, storage, and transloading for commodities and industrial products. The Seed and Processing segment is engaged in soybean crush, and seed distribution in western Canada. It operates approximately 11 locations in Saskatchewan, Manitoba, Ontario, and Minnesota.