Apr 30, 2021 2:56 PM

Ag businesses report favorable first quarter earnings

Posted Apr 30, 2021 2:56 PM

Earning reports topped headlines on Wall Street this week, and agriculture businesses seem to be doing well. Syngenta reported first-quarter sales of $7.1 billion, up 20 percent for the same period last year.

BASF reported first-quarter sales were up 16 percent, to 19.4 billion euros, or $23.52 billion. AGCO reported sales for the first quarter were approximately $2.4 billion, an increase of 23.4 percent. Meanwhile, ADM reported first-quarter earnings of $689 million.

The company says its Ag Services and Oilseeds sector achieved a record first quarter, with operating profits 84 percent higher year over year. Tractor Supply Company reported net sales for the first quarter of 2021 increased 42.5 percent to $2.79 billion from $1.96 billion in the first quarter of 2020.

Finally, CME Group reports revenue of $1.3 billion for the first quarter of 2021. CME Group Chairman and Chief Executive Officer Terry Duffy says, "Trading volumes in Q1 have returned to pre-pandemic levels.”