As noted by ‘Number 6’ in the reader initiated alerts cooperative giant CHS has released their earnings for the quarter ending 5/31/2020.
Revenue was off again–as it has trended lower for a few years. This quarter revenues were $7.2 billion compared to $8.5 billion a year ago. Net income continues to hang in there with $98 million in income this quarter compared to $55 million a year ago.
In the last number of quarters energy sales had been propping up income–but now that has reversed as energy sales were off almost 50% this quarter. There were no energy profits (in fact a sizable loss) this quarter while ag and nitrogen moved more strongly into profits.
CHS has 5 preferred issues outstanding which can be seen here.