Cargill no longer to report quarterly results

United States
Published:  08 June, 2020

The agricultural commodities multinational has announced it will no longer issue public releases on quarterly earnings, and the company has also recently outlined progress against sustainability goals in critical supply chains.

Cargill said it is halting the quarterly financial disclosures that it has provided since 1996, but it will continue to publicly disclose annual revenue and the percent of operating cash flow that is reinvested back into the company. Allegedly, the decision was made to limit costs and to focus resources on long-term strategic priorities.

The U.S. headquartered multinational also said that, through its BeefUp Sustainability initiative, Cargill is “engaging innovative minds to explore impactful ways to drive progress toward its greenhouse gas reduction commitment”. The company has sponsored the Yield Lab Institute’s Manure Challenge, which guides start-ups as they develop innovative solutions and products that enable economic and environmental benefits for farmers with effective manure management practices. Also, in collaboration with Texas Tech University, Cargill said it is conducting a study to further understand the potential sustainability impact of cross-breeding dairy and beef cattle, which could result in decreased greenhouse gas emissions by improving overall productivity.

Source: Reuters