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Q4 Results Show Cargill on Path Toward Higher Performance

14 July 2017

US - Cargill has reported strong financial results for the fourth quarter and fiscal year ended 31 May 2017. In the second year of an ongoing transformation, Cargill raised earnings across all four business segments in both periods. It also advanced the capabilities, expertise and partnerships needed to be the leader in nourishing the world in the years ahead.

David MacLennan, Cargill’s chairman and chief executive officer said: "The past two years have seen significant work to improve performance and position the company for growth.

"The structural improvements we’ve made, as well as favorable conditions in some markets, have yielded strong results.

"Although the environment continuously changes, we feel good about our underlying progress.

"By building a more integrated, focused and agile Cargill, we are creating the momentum for growth and success for our customers and partners."

Mr MacLennan noted that Cargill and its customers now operate in environments of much greater complexity.

Mixed macroeconomic trends have left customers – from consumer branded and foodservice companies to farmers – looking for a partner with the expertise, reliability and forward-looking perspective that Cargill provides.

"We want to be their most trusted partner in agriculture, food and nutrition. We’re in a stronger position today to deliver the solutions our customers seek," Mr MacLennan said.

To drive financial performance in fiscal 2017 and beyond, Cargill:

  • Set a strategic direction to be the leader in nourishing the world in a safe, responsible and sustainable way.
  • Continued building differentiated capabilities for future growth, including digitalization and analytics, and sustainable supply chains.
  • Reshaped its business portfolio through $1 billion of investment in strategic acquisitions, joint ventures, and new or expanded facilities, as well as $700 million in divestitures of non-strategic assets.
  • Repurchased about $2.1 billion in long-term debt, which will lower future interest expense.

To view further information and Cargill's full fiscal 2017 Q4 results, please click here.

TheCattleSite News Desk

Top image via Shutterstock



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