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CHS Inc. (CHSCP) is a leading global agribusiness cooperative founded by farmers, ranchers, and cooperatives in the United States. Committed to enhancing customer growth, CHS operates worldwide supplying energy, crop nutrients, grain marketing services, livestock feed, food ingredients, and business solutions. The company's diverse operations include petroleum refineries, pipelines, and manufacturing of refined fuels, lubricants, propane, and renewable energy products under the Cenex® brand.
With a strong emphasis on agriculture, CHS integrates grain, food, and energy resources into its operations. The company's energy segment focuses on the production and distribution of petroleum products, while the ag segment is a key revenue driver involved in grain and oilseed processing, crop inputs, and ethanol production. CHS also has a nitrogen production segment and earns significant revenue through agricultural activities.
CHS Inc. is dedicated to empowering agriculture and sustainability, providing essential crop inputs, market access, and risk management services to help farmers worldwide. With revenues of $47.8 billion in fiscal year 2022, CHS emphasizes environmental stewardship, economic viability, and community well-being in its operations.
CHS Inc., the leading agribusiness cooperative, announced its third quarter fiscal 2024 earnings, reporting a net income of $297.3 million and revenues of $9.6 billion. These figures represent declines from the same quarter in fiscal 2023, which saw net income of $547.5 million and revenues of $12 billion. For the first nine months of fiscal 2024, net income stood at $990.5 million and revenues at $30.1 billion, compared to $1.6 billion and $36.1 billion, respectively, for the same period last year.
The decrease in earnings is attributed to weaker commodity prices, lower refining margins, and softer demand for grain and oilseed. Pretax earnings in the Energy segment fell by $101.1 million, while the Ag segment saw a decline of $125 million. Despite these challenges, CHS’s equity method investments, particularly in CF Nitrogen, performed well. CEO Jay Debertin emphasized the company's strong financial results and its ability to navigate the downturn through cost control and efficiency.
Cenex, the energy brand of CHS, announced the Norborne Soybean Festival in Norborne, Missouri as the Hometown Throwdown $100,000 grand prize winner. The Hayward Musky Festival in Wisconsin and the Roseau Fall Harvest Festival in Minnesota will each receive $25,000. Hometown Throwdown, a social media contest launched last fall, aimed to celebrate local pride by encouraging entries to highlight unique hometown festivals. The contest received over 500 submissions from Oct. 3 to Dec. 15, 2023. Cenex has a history of community support, having given more than half a million dollars in grants to date.
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