Declining Energy Sector Offsets FCL Earnings

Federated Co-operatives Limited (FCL) had revenues of $7.9 billion for the financial year that ended October 31, 2020. Earnings for the year were $177 million and, from these earnings, FCL returned $117.5 million to local co-ops across western Canada. The co-op had strong results in the food, home and building, and agriculture business lines. However, these were not enough to offset substantial declines in the energy sector.