ST. PAUL, MINNESOTA, U.S. — CHS Inc. reported on Jan. 11 earnings of $416.2 million for the first quarter of its 2012 fiscal year.
Earnings attributed to CHS operations for the period (Sept. 1, 2011 through Nov. 30, 2011) increased 106% over the $201.7 million for first quarter of fiscal 2011.
Revenues for first quarter of fiscal 2012 reached $9.7 billion, compared with $8.1 billion for the first three months of fiscal 2011, primarily reflecting continued strong values for the energy, grain and crop nutrients products that comprise the majority of CHS business.
Earnings were led by the Energy segment, with the majority resulting from improved margins generated by the CHS Refinery at Laurel, Montana, U.S., and the National Cooperative Refinery Association of McPherson, Kansas, U.S., in which CHS currently owns nearly 75%. The company's propane, lubricants and transportation businesses also reported improved earnings for the first quarter of fiscal 2012, while earnings for the same period declined for its renewable fuels marketing and distribution operations, CHS said.
Earnings declined within the CHS Ag Business segment due to lower margins for the grains and oilseeds the company markets and processes, as well as for those handled by its Country Operations locally controlled retail businesses. The company's crop nutrients business reported a quarter-over-quarter increase in earnings due to increased margins.