MINNEAPOLIS — “Excellent execution” and “customers’ partnerships” helped Cargill deliver an increase in revenues in the fiscal year ended May 31. At $177 billion, revenues were up 7% from fiscal 2022, the company noted in its annual report.

Cargill said the rise in revenue in part reflected the benefit of several investments undertaken in 2023, including a new joint venture with Wayne-Sanderson Farms, which the company said positions it for growth in North American poultry. Additionally, Cargill acquired Owensboro Grain Co., which will expand the company’s oilseed crush capacity to meeting rising demand. The company also completed its acquisition of Croda’s bio-based performance technologies business, a transaction Cargill said will expand its portfolio of nature-based solutions for industrial manufacturers.

Beyond revenue growth, Cargill said it is working to support a resilient food system and find solutions to rising food insecurity that has emerged since the war in Ukraine began last year. The company also said it is embracing the opportunity to drive solutions that pertain to climate change.

“We’re reformulating how we fuel the fleets that move the world’s grain, investing in farmers who are regenerating the soil our crops depend on, accelerating efforts to eliminate deforestation, and enabling our customers to achieve their sustainability goals through our supply chains,” Brian Sikes, president and chief executive officer, noted in the annual report. “We’re reporting our progress and holding ourselves accountable to achieve results.”