Key strategic accomplishments across the business, particularly the company’s progress on productivity and innovation objectives, lifted fiscal 2022 earnings and revenues at ADM, said company executives.

The company’s gross margin rose 310 basis points to 28.2% during the quarter and management is guiding healthy gross margins in the quarters ahead.

Hormel Foods Corp. will increase advertising spend on its turkey portfolio in fiscal 2023 after raising prices in fiscal 2022. Highly pathogenic avian influenza (HPAI) should continue to impact the turkey category negatively in the next fiscal year, but to what degree remains unknown.

Sluggish consumer demand ate into IFF volume numbers in the third quarter ended Nov. 30. Volume was challenged in two IFF segments, Nourish and Health & Biosciences, said Glenn Robert Richter, chief financial officer, in a Nov. 8 earnings call.

Despite halting production at its Wieze plant in Belgium after discovering salmonella in a production lot on June 27, Barry Callebaut AG achieved volume growth of 5.3% in the 2021-22 fiscal year. 

Following a review of the company’s credit ratings, Grupo Bimbo SAB de CV’s senior unsecured ratings were reaffirmed by Moody’s Investors Services at Baa2. 

The impact of the current inflationary environment on consumers is embedded in Walmart Inc.’s second-quarter results.

Seaboard Corp. announced its financial results for the second fiscal quarter which showed promise in its turkey investments. 

IFF so far has navigated inflation in 2022 through price increases. A similar scenario looks to be on the horizon for 2023.

Putting its “deep expertise, unique position connecting the global supply chain, and extensive innovative partnerships to work” helped Cargill lift global revenues 23% in fiscal 2022 ended May 31 to $165 billion, said David MacLennan, chief executive officer, and Brian Sikes, chief operating officer.