Ceres Global Ag Corp. Reports Earnings Results for the Third Quarter Ended March 31, 2020
May 29, 2020 at 02:46 am IST
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Ceres Global Ag Corp. announced earnings results for the third quarter ended March 31, 2020. For the third quarter, the company announced sales was USD 120.613 million compared to USD 90.594 million a year ago. Operating income was USD 115,000 compared to USD 477,000 a year ago. Net loss was USD 281,000 compared to USD 1.240 million a year ago. Basic loss per share was USD 0.01 compared to USD 0.04 a year ago. For the nine months, sales was USD 404.071 million compared to USD 303.656 million a year ago. Operating income was USD 7.102 million compared to USD 1.430 million a year ago. Net income was USD 3.810 million compared to net loss of USD 14.912 million a year ago. Basic earnings per share was USD 0.13 compared to basic loss per share of USD 0.53 a year ago. Diluted earnings per share was USD 0.12 compared to diluted loss per share of USD 0.53 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.