Giant agriculture cooperative CHS Inc. announced earnings today.
Earnings were way above last years quarter with net income of $219 million compared to last years quarter of a $38 million dollar loss. Finally (after years of marginal earnings in a business they had invested billions in) the investment in nitrogen production paid off with pretax income of $154 million from that business. 6 month net income was over $600 million compared to $31 million last year.
Of course CHS has 5 high yield preferred outstanding–all of which remain at high prices–they can be seen here.
The earnings release can be read here.
2 thoughts on “CHS Announces Earnings”
The largest Cooperative Organization in the US. , a Fortune 500 secondary cooperative owned by United States agricultural cooperatives, farmers, ranchers, and thousands of preferred stock holders.
How quaint, in an age of privatization of All Things!
It’s an energy wholesaler/retailer disguised as a farm supply chain? Great customer goodwill.