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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

CHS Inc Reports Decreased Sales and Income

01/11/2021

CHS Inc, the largest U.S. agribusiness cooperative, reported a 60.8 percent decline in net earnings for the first quarter of FY 2021 ending November 30th 2020.  For the period, revenue declined 12.6 percent to $8.7 billion and net income attained $69.7 million. 

 

The CHS Energy Segment experienced low crack-spreads in refineries and lower propane demand.  The CHS Agricultural Segment benefited from increased trade in commodities and favorable weather conditions during the fall harvest.

 

Jay Debertin, president and CEO of CHS Inc, noted “A good growing season led to a good harvest and we saw commodity price rallies from spring and summer extend into fall.”  He added, “Improved trade opportunities with China helped drive improvements in the global grain business and our animal nutrition volume saw growth.”


 
Copyright © 2021 Simon M. Shane