INVER GROVE HEIGHTS, MINNESOTA, US — Decreased selling prices for grains, oilseeds and refined fuels lowered CHS, Inc.’s revenue and net income for the first quarter of 2025 ended Nov. 30, 2024, the company said on Jan. 8.

Net income for the quarter was $244.8 million, down from $522.9 million in the same quarter a year ago. Revenue fell to $9.3 billion from $11.4 billion a year earlier.

“The energy industry is experiencing compressed refinery margins at the same time that US agriculture is seeing a weaker farm economy with a globally competitive marketplace for grains and oilseeds,” said Jay Debertin, president and chief executive officer of CHS Inc. “Just as we have for nearly 100 years, CHS is leveraging our efficient global supply chain, strong relationships and expertise to navigate these changing markets, while strategically investing to meet our owners’ future needs.”

Ag segment earnings were moderately lower due to softening oilseed crush margins compared to historically high margins in the first quarter of the prior fiscal year.

Pretax earnings of $166.7 million were down $3.1 million from the prior year period. A larger supply of canola and soybean meal across global markets decreased margins in oilseed processing.

The results also reflect market-driven price decreases in wholesale and retail agronomy.

Energy segment pretax earnings of $19.8 million dropped by $247.1 million from the prior year due to lower refined fuel margins due to less favorable market conditions. This included higher US refinery capacity utilization and global production.