CHS Reports $229 Million Net Income for 3rd Quarter
USAgNet - 07/12/2018
CHS Inc. reported net income of $229.3 million for the third quarter of its 2018 fiscal year, ending May 31. That's compared to a net loss of $45.2 million for the same time period a year ago.
Consolidated revenues for the three months were $9.0 billion, up from $8.6 billion for the same period of fiscal 2017. Pretax income was $289.4 million for the third quarter of fiscal 2018, compared to a loss of $209.2 million for the same period the prior fiscal year.
"Thanks to the hard work of many throughout CHS, we've made great strides this year in strengthening relationships, optimizing operations and improving results from our core businesses," said CHS President and CEO Jay Debertin. "The steps we've taken will better position us to navigate the inevitable cycles in agriculture and energy. I am proud of our team and their dedication and commitment to operating with excellence."
For the first nine months of fiscal 2018, CHS reported net income of $576.1 million compared with earnings of $178.5 million for the same period in fiscal 2017. Revenues for the first nine months of fiscal 2018 were $23.9 billion, on par with the same time period the prior fiscal year.