Giant ag cooperative CHS has released earnings for the quarter ending 5/31/2019.
Honestly the earnings were not very good–although they haven’t been stellar for quite a few quarters. The coop earned a net of $54 million on sales of $8.5 billion.
We only care about these earnings as the cooperative has 5 outstanding issues of preferred stock–all of which are unrated and which carry fairly high coupons. In spite of the marginal earnings, preferred shares are not reacting negatively–nor would we be overly concerned. Over time when the ag economy improves the general financials will improve.