Giant agricultural cooperative CHS Inc. has released their latest earnings.
Since there are no common shares outstanding, but they have 5 preferred stock issues outstanding I thought I would post this note. All of their preferred issues trade at huge premiums to the $25/share liquidation value. You can see the issues here.
As expected the earnings were pretty soft as the energy sector (refining) had substantially lower revenue and earnings. Ag revenue jumped, but earnings remain soft–with the huge jump in corn and soybean prices in recent months I would expect earnings in the ag sector to recover strongly come springtime