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Stock impact report

CHS Reports $177.9 Million in First Quarter Net Income

CHS Inc - 8% Cumulative Redeemable Preferred Stock (CHSCP) 
Company Research Source: PR Newswire
ST. PAUL, Minn., Jan. 8, 2020 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP), the nation's leading agribusiness cooperative, today reported net income of $177.9 million for the first quarter of fiscal year 2020 that ended Nov. 30, 2019. This compares to net income of $347.5 million in the first quarter of fiscal year 2019.The results for the first quarter of fiscal year 2020 reflect:Revenues of $7.6 billion compared to revenues of $8.5 billion for the first quarter of fiscal year 2019. Strong supply chain performance in our propane business that was a positive contributor resulting from efficient sourcing of propane during significantly increased fall demand – brought on by unseasonably early cold and wet weather during harvest – for crop drying and home heating. Less advantageous market conditions in our refined fuels business compared to the first quarter of fiscal year 2019, during which the company experienced historically wide pricing spreads between Canadian crude oil and crude oil fr Show less Read more
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