Company also highlights ‘significant progress’ on climate, sustainability initiatives
Cargill said its fiscal year 2020 revenue was US$114.6 billion, a 1% increase from the previous year, and added that it reinvests, on average, 80% of its operating cash flow back into the company.
Cargill, the largest privately held company in the U.S., announced in June that it would no longer publicly issue quarterly earnings reports but that it would continue to share pertinent financial information with investors. In March, Cargill canceled its third quarter earnings release so it could focus on its operations during the novel coronavirus (COVID-19) pandemic. At the time, it said it would offer “high-level guidance” on its performance from December to February and that it is likely that it will combine its third quarter results with its fourth quarter release.
“Revenue is not the only measure with which Cargill measures our success,” a company spokesperson said in an email to Feed Strategy. “Our commitment to our customers and creating organic growth is as strong as ever. We will remain transparent about what we do and how we do it, including sharing our annual report and providing regular updates on our progress against goals and targets the company sets across sustainability, investments, growth and culture.”
Climate commitments, sustainability initiatives
Cargill also recently said it has made “significant progress” on its climate commitments and key sustainability initiatives, “including point location mapping for 100% of our Brazilian soy farm suppliers, six months ahead of schedule, and we can now estimate that 95.68% of our soy sourced from Brazil is grown on land that is deforestation and conversion-free.”
“We are committed to having a positive impact on the food system, and we believe agriculture is how we can make it more sustainable,” the spokesperson said.