CHS Inc., a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States, reported a net income of $347.1 million for the first quarter of fiscal 2019.”Our strong first quarter results position us well as we start our 2019 fiscal year,” said Jay Debertin, CHS president and chief executive officer. “We are focused on making CHS our customers’ first choice by advancing our technology solutions and equipping employees to meet the changing needs of our customers around the world. We will do this while maintaining financial discipline and rigor.”
- Key financial highlights for the quarter that ended Nov. 30, 2018, include:
- Net income of $347.1 million, an increase of $159.9 million from the restated first quarter of fiscal 2018.
- Consolidated revenues of $8.5 billion, a $452.4 million increase from the restated first period of fiscal 2018.
- Pretax income of $367.2 million, an increase of $159.4 million from the restated first period of fiscal 2018.
- Improved crude oil pricing, which drove higher refining margins.
- Favorable market conditions in the crop nutrients business, which resulted in higher margins.
- Improved earnings in the company’s CF Nitrogen, Ardent Mills and Ventura Foods investments.