St. Paul, MN - Jan. 10, 2019 - CHS Inc. (NASDAQ: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL), the nation's leading farmer-owned cooperative and a global energy, grains and foods company, today reported a net income of $347.1 million for the first quarter of fiscal 2019.
"Our strong first quarter results position us well as we start our 2019 fiscal year," said Jay Debertin, CHS president and chief executive officer.
"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."
Key financial highlights for the quarter that ended Nov. 30, 2018, include:
First Quarter Fiscal 2019 Segment Results
The following segment results were reported for the first quarter of fiscal 2019 as compared to first quarter fiscal 2018.
ENERGY The $112.0 million increase in Energy pretax earnings reflects the following:
AG The $5.1 million increase in Ag pretax earnings was driven by the following:
NITROGEN PRODUCTION The $18.0 million increase in Nitrogen Production pretax earnings reflects the following:
CORPORATE AND OTHER The $24.3 million increase in Corporate and Other pretax earnings reflects the following:
In late December 2018, CHS, a 25 percent owner of West Central Distribution, exercised its option to purchase the remaining 75 percent of the respected crop protection distribution company and is in the process of completing due diligence and satisfying regulatory, legal and other requirements.
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