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

08 May 20182 min reading
chsCHS Inc. leading U.S. farmer-owned cooperative and a global energy, grains and foods company, 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. "CHS made meaningful progress in the first half of fiscal year 2018 as we continue to position CHS for higher performance," said CHS President and CEO Jay Debertin. For the second quarter of fiscal 2018 (Dec. 1, 2017 through Feb. 28, 2018), CHS reported net income of $166.7 million compared with earnings of $14.6 million for the same period in fiscal 2017. Revenues for the second quarter of fiscal 2018 were $6.9 billion, down from $7.3 billion for the second quarter of fiscal 2017. The Ag segment, which includes domestic and global grain marketing and crop nutrients businesses, renewable fuels, local retail operations and processing and food ingredients, generated pretax income of $43.6 million for the six months ending Feb. 28, 2018. That compares to $99.9 million for the same period the previous fiscal year. The $56.3 million decrease was primarily the result of a decline in grain and oilseed volumes in the grain marketing and country operations businesses, and lower prices across the majority of the Ag sub-segments.
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