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.
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.
By Steve Hinds, Senior Business Development Manager, CHS Refined Fuels Marketing from the Cenexperts blog
Incompatible people are often said to mix like oil and water.
But if you really want to talk about an unfortunate combination, look no
further than fuel and water. Water in a machine’s fuel line can be a one-way
ticket to trouble.
The good news about water damage is it’s preventable. Here’s
what you need to know about diesel fuel water contamination and how to keep it
from sinking your operation.
Missed the 2019 CHS Owners Forum in your area? Tune in for the CHS Owners Forum webinar Friday, June 28, 1:00 to 2:30 p.m. CT, to hear business updates from CHS leadership including CHS President and CEO Jay Debertin. We will also take a look at industry trends and ask for your input on how we can make connections that support long-term success. Register here.
What happens when the world’s biggest buyer suddenly backs away from U.S. soybeans? That’s been a question on everyone’s mind since July 6, 2018, when the United States implemented China-specific tariffs. The move embroiled U.S. farmers and cooperatives in a trade war that hit the soybean world particularly hard. Spring USDA data shows 2018–2019 soybean export inspections down nearly 34 percent from the year before, with farms and cooperatives struggling to handle huge carryover and reduced cash flow.
The 2019 CHS Owners Forums will be held at 11 sites across the country in May and June. As an owner of CHS, we invite you to join us at the forum nearest you to hear business updates from CHS leadership including CHS President and CEO Jay Debertin. We will also take a look at industry trends and will be asking for your input on how we can make connections that support long-term success. Forums will wrap up with lunch at noon. Please register to reserve your spot.
Whether your spring to-do list includes building a fence or planting trees – breaking ground should always be done with caution. April is National Safe Digging Month so remember, your best line of defense before digging is to call 811, a free service that marks underground utilities and pipelines. Many of these are less than a foot underground.
The process is simple: Call 811 or visit clickbeforeyoudig.com three days
before a digging project, wait for underground utilities to be marked and don’t dig within two feet of those markers.
It’s best to call 811 any time you break ground, even if you think you know where a utility line is located. “In the U.S., an underground utility is hit every nine minutes, causing dangerous consequences,” says Tina Beach, public awareness specialist for CHS. “It takes a lifetime to build a farm, and it takes just one free call to keep it safe.”
By Mimi Falkman, senior marketing specialist, CHS Lubricants
Planting season is always a busy time of year on the farm,
but it can be especially tight when winter overstays its welcome. A short spring means there’s even less time than usual for farmers to complete some of the most important work of the year.
During a condensed planting season, equipment is under added
stress because it needs to work overtime to meet demands. To keep machines protected and operating at peak performance during a shorter spring, farmers can set themselves up for success by
preparing their equipment and fluids while the fields are still wet.
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.
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
Grain powers American agriculture. During Stand-Up for Grain Safety Week, March 25 through 29, we want to remind everyone working on farms and in grain-handling facilities to respect and understand the risks associated with working with grain.
“It’s important to continue to work with the industry, our
employees and our farmer-owners on the hazards in the grain industry, while
stressing safe practices and controls to ensure their safety,” says Matt
Surdick, manager, Country Operations Environment, Health and Safety, CHS.
People in rural communities live surrounded by growing food,
but they experience hunger too. That’s why CHS is once again teaming up with
local farmers to fight hunger in rural America. The CHS Harvest for Hunger food,
grain and fund drive begins March 1 and continues through March 20 at your
nearest CHS location.
“We might never know that the neighbor across the road or
down the drive struggles to put food on the table, but through our efforts this
month, we can make sure those local food shelves can anonymously help those who
need it most,” says Rick Dusek, executive vice president, CHS Country
Operations. “For nine years now, our CHS employees and farmer-owners have
stepped up during this annual campaign to help local and regional food shelves
feed those in need.”
Since 2011, CHS has raised more than $5.6 million and 3.6
million pounds of food through its Country Operations business units. CHS
locations across the United States have organized ways to get farmer, ranchers,
employees and community members involved in fun and interactive ways to raise
food and funds to fight hunger.
Financial donations are encouraged as they give food banks
additional buying power to provide nutritious food at deeply discounted rates;
$1 equals 6 pounds of food for area food banks. But food and grain donations
are also accepted. Every donation counts.
“All the food, money and grain raised by CHS Harvest for
Hunger goes directly back to local and regional food banks to help fill their
shelves,” Dusek says. “This way, we can help those in need by ensuring those
organizations dedicated to fighting rural hunger have the resources they need
to make a real difference in people’s lives.”
Stop by or contact your nearest CHS location to learn how you
can support CHS Harvest for Hunger.