Land O’Lakes (LOL) reported record 2012 sales of $14.1 billion and record net earnings of $241 million this morning.
The Dairy Foods group reported net sales of $4.2 billion, which down 4% from 2011. But pretax earnings from the group were $38 million, up 34% from last year.
Net sales from the Feed group climbed to $4.6 billion, up 15%, and pretax earnings climbed to $31 million, up 63%. In 2012, LOL unified its feed brands under the Purina name and changed the name of the feed company to Purina Animal Nutrition LLC.
The company also returned $113 million to its owner/members last year. This is the fourth consecutive year it has returned more than $100 million to members.
More detail on LOL’s 2012 performance can be read here.