Posts Tagged: CHS income

CHS reports $54.6 million of net income for third quarter of fiscal 2019

Company reports net income of $650.9 million for first nine months of fiscal year

CHS Inc. today announced its financial results for the third quarter and the first nine months of fiscal year 2019.

CHS reported:

  • Net income of $54.6 million for the third quarter of fiscal 2019 compared to $181.8 million for the restated third quarter of fiscal 2018. One-time pre-tax gains of $124.1 million in the restated third quarter of fiscal year 2018 were not realized in the same time period in fiscal 2019. One-time pre-tax gains of $19.2 million related to the purchase of the remaining 75 percent share of West Central Distribution, LLC were realized in the third quarter of fiscal 2019.
  • Consolidated revenues of $8.5 billion for the third quarter of fiscal 2019 compared to $9.1 billion for the restated third quarter of fiscal 2018.
  • Net income of $650.9 million for the first nine months of fiscal 2019 compared to $535.5 million for the restated first nine months of fiscal 2018, an increase of 21.5 percent.
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CHS reports $596.3 million of net income for first six months of fiscal 2019

CHS Income

CHS Inc. reported net income of $248.8 million for the second quarter of fiscal 2019 and $596.3 million for the first six months of fiscal 2019.

“Our strong performance in the second quarter reflects our hard work at serving our owners and other customers better. We’ve refocused on serving our customers and improving our operations, and that has shown positive results in our financials for the first half of fiscal 2019,” said Jay Debertin, CHS president and chief executive officer. “Our performance also reflects the benefit of a diverse platform across business units that serves our cooperative and farmer-owners.”

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CHS reports fiscal 2018 net income of $776 million

CHS income fiscal 2018

CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $775.9 million for the fiscal year that ended Aug. 31, 2018.

“Our fiscal 2018 results show the progress we are making on the priorities we set for CHS,” said Jay Debertin, CHS president and chief executive officer. “Our year-over-year financial performance shows good improvement, our balance sheet is solid, and our relationships with cooperative owners are strong. The diverse CHS business platform allowed us to deliver improved earnings and enables us to return $150 million in cash patronage and equity redemptions to owners even as we navigated challenging market conditions.” (more…)

CHS reports net income of $229.3 million for the 3rd quarter of fiscal 2018

CHS income

CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, reported net income on July 11, 2018, of $229.3 million for the third quarter of its 2018 fiscal year (three-month period ended May 31, 2018), compared to a net loss of $45.2 million for the same time period a year ago.

Consolidated revenues for the third quarter of fiscal 2018 were $9.0 billion, up from $8.6 billion for the third quarter of fiscal 2017. Pretax income was $289.4 million for the third quarter of fiscal 2018, compared to a loss of $209.2 million for the same period the prior fiscal year.

“Thanks to the hard work of many throughout CHS, we’ve made great strides this year in strengthening relationships, optimizing operations and improving results from our core businesses,” said CHS President and CEO Jay Debertin. “The steps we’ve taken will better position us to navigate the inevitable cycles in agriculture and energy. I am proud of our team and their dedication and commitment to operating with excellence.” (more…)

CHS reports a net income of $346.7 million for the first half of fiscal 2018

CHS income fiscal 2018

CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $346.7 million for the first half of its 2018 fiscal year (six-month period ended Feb. 28, 2018), compared to net income of $223.7 million for the same time period a year ago.

Consolidated revenues for the first half of fiscal 2018 were $14.9 billion, down from $15.4 billion for the first half of fiscal 2017. Pretax income was $185.0 million and $249.1 million for the first half of fiscal 2018 and 2017, respectively. (more…)

CHS reports $180.1 million first quarter earnings for fiscal 2018

CHS President and CEO, Jay Debertin

CHS reported net income of $180.1 million for the first quarter of its 2018 fiscal year (three-month period ended Nov. 30, 2017), compared to net income of $209.2 million for the same period a year ago.

Consolidated revenues for the first quarter of fiscal 2018 were $8.0 billion, the same as fiscal 2017. Pretax income was $199.6 million and $225.6 million for the first quarter of fiscal 2018 and 2017, respectively.

“Despite challenging market conditions, CHS experienced a solid first quarter thanks to our continued focus on three key priorities: strengthening relationships, sharpening operational excellence and restoring financial flexibility,” said CHS President and Chief Executive Officer Jay Debertin. “In the first quarter, we recorded solid earnings from our businesses and reduced long-term debt. These actions are helping to strengthen and grow CHS.”

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CHS reports fiscal year-end results, announces FY 2018 priorities

CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $127.9 million for the fiscal year ended Aug. 31, 2017, compared to net income of $424.2 million for the fiscal year ended Aug. 31, 2016. Consolidated revenues totaled $31.9 billion for fiscal 2017, approximately a five percent increase over consolidated revenues of $30.3 billion for fiscal 2016. (more…)

CHS reports fiscal 2017 third-quarter results

Underlying business performance stable, one-time events cause quarterly loss

PAUL, MINN. (July 14, 2017) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, announced a net loss of $45.2 million for the third quarter of its 2017 fiscal year (three-month period ended May 31, 2017), compared to net income of $190.3 million for the same period one year ago. Consolidated revenues for the third quarter were $8.6 billion, compared to $7.8 billion for the third quarter of 2016, representing a 10 percent increase.

“Despite the economic challenges in agriculture and energy, several of our underlying businesses are having a solid year,” said CHS President and Chief Executive Officer Jay Debertin. “Unfortunately, we’ve experienced three negative one-time events this fiscal year that have resulted in charges leading to a loss in the third quarter and a significant earnings decline for the year to date. In response to these events, we are implementing measures to better identify risk management gaps in some of our processes and when necessary enhance our ability to effectively manage our risks.”

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CHS reports fiscal 2017 second-quarter and first-half results

CHS office in winter

Earnings increase in second quarter on improved conditions across CHS wholesale and retail agricultural related businesses

ST. PAUL, MINN. (April 5, 2017)CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $14.6 million for the second quarter of its 2017 fiscal year (the three-month period ended Feb. 28, 2017), compared to a net loss of $31 million for the second quarter of fiscal 2016. Operating earnings for the company’s second quarter were $10.5 million, up from a loss of $91.8 million from the second quarter of fiscal 2016. Revenues for the second quarter were $7.3 billion, up 11 percent compared with $6.6 billion for the second quarter of fiscal 2016.

Earnings for the six months of the company’s fiscal 2017 (the six-month period ended Feb. 28, 2017), were $223.7 million, compared to $235.5 million for the first six months of fiscal 2016, a decrease of 5 percent. The decrease is a result of increased loan loss reserves, higher income taxes and continued challenges in the energy operating environment, which were partially offset by improved conditions across CHS wholesale and retail agricultural related businesses.

Revenues for the first six months of fiscal 2017 were $15.4 billion, compared to $14.4 billion for the first six months of fiscal 2016, an increase of 7 percent.

“As our operating environment remains challenging, we continue to act prudently, taking appropriate and measured actions regarding costs and investments, while positioning ourselves to take advantage of opportunities as they arise while focusing on return on our invested capital,” said CHS President and Chief Executive Officer Carl Casale. “We are on a journey and are starting to see the benefits of our focus.”

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