Cargill Inc.'s annual revenue reached $165 billion in its latest fiscal year, the most money ever brought in by the agribusiness giant.
The Minnetonka-based commodities trader's revenue surged 23% in a year punctuated by extreme global events, the company said in its annual report published last week.
"Amid the chaos and complexity of this year, Cargill's people made decisions, acted with agility, and overcame challenges to meet customers' needs without sacrificing [their] values," Cargill Chief Executive Dave MacLennan and Chief Operating Officer Brian Sikes said in a letter to shareholders.
Cargill releases limited financial details throughout the year. It did not share its full-year profit in the annual report.
Cargill is the nation's largest private company by revenue and the world's largest purveyor of raw agricultural goods — buying, processing, shipping and selling everything from chocolate to palm oil and chicken across the globe.
When including public companies, Cargill is the second-largest in Minnesota, behind another well-known Minnetonka-based entity: UnitedHealth Group.
During the company's latest fiscal year, which ended May 31, Cargill navigated "extreme events," such as the ongoing COVID-19 pandemic, severe weather, trade disruptions and Russia's invasion of Ukraine.
Cargill's scale and 157 years of experience helped.
"Thanks to our teams' diligence and agility in serving customers, we recorded $165 billion in revenues this fiscal year, a 23% increase from a year ago," the executives said in the shareholder letter. "Numerous customers recognized us for our work to help them succeed in this challenging environment."