CHS Reports Stronger Earnings

As CHS (Cenex Harvest States) is a company which many investors hold preferred shares we note that the cooperative reported earnings yesterday.

The company had net earnings of $229 million against a $45 million loss a year ago.  They did have a $51 million gain on the sale of an insurance subsidiary.

Being a cooperative there are no common shares traded, but there are 5 different preferred issues outstanding all of which trade very strongly.

6 thoughts on “CHS Reports Stronger Earnings”

  1. I took my dividend on spkep and sold for a small profit. I really don’t like their business but saw a chance to make a quick buck. I also have some CHS shares.

  2. I have to check my SPKEP and may trim it back a little. I never really liked it all that much, but I am in the black on it with dividends.

    Speaking of energy issues — what does everyone think of the new Sempra preferred? I am not big on convertibles, but have owned one or two on occasion.

      1. Thank you very much! I will look this information over.

        I have had an order for the SRE-A placed for a bit but it has not filled.

  3. Thanks for the CHS info. CHSCL has been a longtime favorite of mine to buy on pullbacks and sell when it runs up a couple of bucks while collecting the dividends. I’m trying to unload some SPKEP today and have a partial fill at $23.60. Hopefully they will report good results when they report in August but quite frankly, they make me nervous and definitely not a SWAN holding for me. The short interest on SPKE is a massive 41% according to which is also worrisome.

    1. Hi Leonard—I cut back my SPKEP position to a normal size a few days ago–not a SWAN for me either, but it is closer to a SWAN with a standard holding instead of a 200% position. I had a 3-4% gain (at least will have on Monday when the divies arrive.

      I really need some CHS–I haven’t held for years. Wish they would come to me a bit–I hate paying such huge premiums for any issue.

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