Second quarter net income of $292.3 million in fiscal year 2023 reflects strong energy market conditions

CHS Inc., the nation’s leading agribusiness cooperative, today released results for its second quarter ended Feb. 28, 2023. The company reported quarterly net income of $292.3 million compared to $219.0 million in the second quarter of fiscal year 2022. For the first six months of fiscal year 2023, the company reported net income of $1.1 billion and revenues of $24.1 billion compared to net income of $671.0 million and revenues of $21.2 billion recorded in the first half of fiscal year 2022.

Strong Global Demand for Ag and Energy Generated $782.6 Million in Fiscal 2023 First Quarter Net Income

CHS Inc., the nation’s leading agribusiness cooperative, today released results for its first quarter ended Nov. 30, 2022. The company reported quarterly net income of $782.6 million compared to $452.0 million in the first quarter of fiscal year 2022.

Fiscal 2023 first quarter highlights include:

• Revenues of $12.8 billion compared to $10.9 billion in the first quarter of fiscal year 2022, a year-over-year increase of 17%.
• Continued robust global demand for commodities, coupled with market volatility, resulted in strong earnings across all business segments.
• Significantly improved earnings in our Energy segment resulted primarily from higher refining margins driven by strong demand in rural America and global market conditions.
• Our soybean and canola processing businesses in our Ag segment benefited from strong demand for meal and oil.
• Our CF Nitrogen investment delivered strong earnings due to robust urea and UAN demand.