ST. PAUL, MINN. (January 12, 2017) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $209.2 million for the first quarter of its 2017 fiscal year.
Earnings for the period (Sept. 1 – Nov. 30, 2016) declined 22 percent from the same period of fiscal 2016. The decrease was primarily attributed to lower pretax earnings in the company’s Energy and Foods segments along with Corporate and Other. These declines were partially offset by increased pretax earnings in the CHS Ag segment as well as earnings from the new Nitrogen Production segment.
“We’ve been in business for nearly nine decades, so we’ve experienced these types of cycles before,” said CHS President and Chief Executive Officer Carl Casale. “Although it’s not possible to predict how long the current down cycle in the ag and energy industries will continue, we’ll navigate through this period by continuing to run our businesses efficiently and effectively, by maintaining a strong balance sheet and by ensuring we serve our owners’ and customers’ needs in all we do.”