How profit margins have shifted from pre-pandemic levels

Fortune analyzed food and consumer goods manufacturers' pre-pandemic average net income margins from 2019 compared to 2021.

Data is based on calendar quarter net income margins from 2019 and 2021. Estimates are used for the fourth calendar quarter of 2021 for companies that have not yet reported. Land O'Lakes 2021 margin is based on previous 12 months. The 2019 margin rates may include earnings from discontinued operations. Data as of Feb. 11, 2022.
SOURCE: S&P Global Intelligence
Fortune.com