Posts Tagged: CHS income

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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CHS reports $209.2 million first quarter earnings for fiscal 2017

 

ST. PAUL, MINN. (January 12, 2017) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $209.2 million for the first quarter of its 2017 fiscal year.

Earnings for the period (Sept. 1 – Nov. 30, 2016) declined 22 percent from the same period of fiscal 2016. The decrease was primarily attributed to lower pretax earnings in the company’s Energy and Foods segments along with Corporate and Other. These declines were partially offset by increased pretax earnings in the CHS Ag segment as well as earnings from the new Nitrogen Production segment.

“We’ve been in business for nearly nine decades, so we’ve experienced these types of cycles before,” said CHS President and Chief Executive Officer Carl Casale. “Although it’s not possible to predict how long the current down cycle in the ag and energy industries will continue, we’ll navigate through this period by continuing to run our businesses efficiently and effectively, by maintaining a strong balance sheet and by ensuring we serve our owners’ and customers’ needs in all we do.”

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CHS posts fiscal 2016 earnings of $424.2 million

2016 Harvest

ST. PAUL, MINN. (Nov. 3, 2016) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today announced earnings for fiscal 2016 of $424.2 million.

CHS net income for fiscal 2016 (Sept. 1, 2015 – Aug. 31, 2016) of $424.2 million was down 46 percent from $781.0 million for fiscal 2015, reflecting lower pre-tax earnings within the company’s Energy and Ag segments, as well as its Corporate and Other category. Lower pre-tax earnings within these two segments were partly offset by increased pretax earnings in its Foods segment, and seven months of earnings from its Nitrogen Production segment which was created by the February 2016 strategic investment CHS made in CF Industries Nitrogen, LLC (CF Nitrogen). These results reflect the continued economic down cycle in the company’s core energy and agriculture businesses, as well as the impact of one-time events.

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