Overview

• U.S. agribusiness cooperative's fiscal Q3 revenue rose yr/yr to $11.6 bln

• Fiscal Q3 net income attributable to CHS increased to $267.4 mln from $232.2 mln a year earlier

• Strong refining margins were mostly offset by record-high renewable energy credit costs

Outlook

• Company says ongoing market volatility continues to create a challenging environment for farmers

• CHS says it remains focused on operating efficiently and managing costs amid industry challenges

Result Drivers

• REFINING MARGINS - Improved refining margins and increased U.S. energy exports boosted energy segment results, though gains were mostly offset by record-high renewable energy credit costs

• GRAIN MARGIN PRESSURE - Reduced global grain margins and higher transportation costs weighed on grains results, partially offset by strong oilseed crush margins and corn export volumes

• CF NITROGEN INVESTMENT - Strong performance from CF Nitrogen equity method investment due to favorable market conditions for urea and UAN, partially offset by lower fertilizer sales volumes amid weak U.S. farm economy

Key Details

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