CHS Reports First-Quarter Earnings
CHS released results for its first quarter which ended on November 30th. The company reported a quarterly income of $782.6 million compared to $452 million in the first quarter of fiscal year 2022. First-quarter highlights from this year include revenues of $12.8 billion compared to $10.9 billion in the first quarter of fiscal year 2022, a year-over-year increase of 17%.
Continued robust demand for commodities, coupled with market volatility, resulted in strong earnings across all of the company’s business segments. The company’s soybean and canola processing businesses in the Ag segment benefited from strong demand for meal and oil.
“The U.S. agricultural industry has benefitted from ongoing strong global demand for grain and oilseed commodities,” said Jay Debertin, president and CEO of CHS. “Our continued strong earnings are attributable to market dynamics and supported by our investments on behalf of our owners that will drive efficiency and operational improvements.”
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