CHS Announces 1st Quarter Earnings

Agricultural Cooperative CHS has announced earnings for the 1st quarter ending 11/30/2018.

Earnings were $347 million which is pretty damned good–but as readers have mentioned before CHS is actually an energy company masquerading as a agricultural company.

A quick review shows that $232 million of their income was from their oil refineries, with just $80 million from the ag segment.  $24 million was from their nitrogen investment–the ill conceived $2.8 billion investment in CF Industries Nitrogen LLC.

Of course the financial statements are a bit more complicated than normal as various restatements etc from the previously reported fraud caused a bunch of extra paperwork.

The SEC 10q can be seen here.

The company press release can be seen here.

2 thoughts on “CHS Announces 1st Quarter Earnings”

  1. Thanks, Tim! Great news. Hopefully, they can leave the financial overstatement mess behind quickly, and move on to bigger and better things.

    Now that I know CHS is really an energy company in disguise, I’m gonna have to root for higher oil prices !!

    1. Inspbudget–my concern is when the fat profits in refining get hit the ag sector will still be sucking air.

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