Cargill, America’s largest private company, suffered a drop in its revenue in its most recent fiscal year, down 11% to $120.4 billion from $134.9 billion, according to PrivCo.

Cargill’s revenue makes it just smaller than AT&T Inc. (NYSE: T), before the completion of the DirecTV merger.

Cargill’s net income dropped to $1.58 billion from $1.87 billion in the prior fiscal year.

PrivCo reported:

In a quote from David MacLennan, Cargill’s president and CEO, the company’s loss is a result of a slower economic environment “in many emerging markets where we (Cargill) have invested significantly over the past several years.”

In terms of reorganization:

According to PrivCo data, the company made 4 acquisitions and invested a joint venture, all of which were international deals.

The company describes itself this way:

Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 153,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work.

The company is owned by the descendants of founder William Cargill.

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