MINNEAPOLIS (AP) -- Cargill Inc.'s fiscal third-quarter earnings edged up on stronger results from its food ingredients and applications business.
The privately held agribusiness conglomerate, which does everything from processing food ingredients to shipping grain overseas, reported on Tuesday that its earnings from continuing operations increased to $766 million in the three months ended Feb. 29 from $763 million a year earlier. Revenue rose 5 percent to $31.9 billion from $30.5 billion.
Because Cargill is privately owned, the company does not report financial results with the same level of detail as publicly traded corporations.
Cargill said that earnings for the food ingredients and applications divisions were up significantly, but did not give a specific figure. Earnings for the meat businesses improved from the second quarter, but fell from record levels a year ago due to weakness in the North American beef segment.
Cargill said that the milder weather hurt its industrial unit on softer demand for deicing salt products.
Cargill, which is based in Minneapolis, has 139,000 employees in 65 countries.
Copyright 2012 The AP.