ST. PAUL, MINNESOTA, U.S. — Net income at CHS Inc. in the first quarter of 2019 ended Nov. 30, 2018, increased to $347.5 million, up from $187.6 million in the first quarter of 2018. Revenue for the quarter increased to $8.5 billion, up $452.4 million from the same period a year ago.

“Our strong first-quarter results position us well as we start our 2019 fiscal year,” said Jay Debertin, president and chief executive officer of CHS. “We are focused on making CHS our customers’ first choice by advancing our technology solutions and equipping employees to meet the changing needs of our customers around the world. We will do this while maintaining financial discipline and rigor.”

The Ag segment, which includes domestic and global grain marketing and crop nutrients, renewable fuels, local retail operations, and processing and food ingredients businesses, generated pretax income of $80.3 million in the first quarter of 2019, up slightly from $75.2 million in the same quarter in 2019.

“The increase was driven by improved pricing within the company’s crop nutrients and processing and food ingredients businesses and volume increases within grain and processing,” CHS said.

The co-op’s Corporate and other segment saw improved performance with a $24.3 million increase in pretax earnings.

“Higher earnings from the company's investments in Ventura Foods, LLC and Ardent Mills, LLC as well as increased interest revenue from the company's financing business,” CHS said.

The energy segment’s pretax income for the first quarter of 2019 totaled $232.4 million, an increase of $112 million compared to the same period a year ago.

CHS noted the improved market conditions in the refined fuels business driven by favorable crude oil pricing pushed the energy segments earnings.

In late December 2018, CHS, a 25% owner of West Central Distribution, exercised its option to purchase the remaining 75% of the respected crop protection distribution company and is in the process of completing due diligence and satisfying regulatory, legal and other requirements.