MINNEAPOLIS — Cargill has decided to forgo the release of its third-quarter financial results, making it one of the first major US companies to make such a decision as the nation battles the growing coronavirus (COVID-19) pandemic.
Cargill is a privately held company and therefore is not subject to the same financial disclosure as publicly traded companies. But the company typically issues a press release with income and sales figures, as well as individual business unit updates.
The company was scheduled to issue third-quarter results on March 31.
“As we work to keep our employees healthy and safe during the COVID-19 pandemic — and prioritize all 160,000 Cargill employees on the work that needs to be done to deliver on our purpose and produce the ingredients, feed and food to nourish people and animals — we have decided to forgo our Q3 public earnings release,” Cargill said. “We are working around the clock with farmers and our customers — the nation’s food retailers, service providers and restaurant chains — to feed the world safely and responsibly during this unprecedented time. Our eye is on making the right day-to-day decisions to keep the food system moving during the pandemic — and looking to the future to ensure the food system stays viable around the world.”
Cargill’s fiscal year runs June 1 to May 31.