Net income for the quarter (
Energy earnings for the quarter reflected strong performance within
refined fuels for the quarter, along with a
Declining values and demand for both grain and crop nutrients resulted in
lower earnings within the company's Ag Business segment for the first quarter
of fiscal 2009 when compared to the same period a year ago, although CHS local
retail operations turned in strong performance. During the first quarter of
fiscal 2008, CHS earnings included a gain of
The company's Processing segment operating results were comparable to the same period a year ago, representing strong performance by its wholly owned oilseed processing operations, while reduced consumer demand driven by the national economic downturn resulted in slightly lower earnings for its portions of the Ventura Foods, LLC, food and Horizon Milling, LLC, wheat milling joint ventures. CHS also reported slightly lower earnings from its financing, insurance services and hedging businesses.
During the first quarter of fiscal 2009, CHS also recorded within its
Processing segment a
CHS Inc. (http://www.chsinc.com) is a diversified energy, grains and foods
company committed to providing the essential resources that enrich lives
around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and
cooperatives, along with thousands of preferred stockholders, across
This document contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on
management's current expectations and assumptions. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from the potential results discussed in
the forward-looking statements. The company undertakes no obligations to
publicly revise any forward-looking statements to reflect future events or
circumstances. For a discussion of additional factors that may materially
affect management's estimates and predictions, please view the CHS Inc. annual
report filed on Form 10-K for the year ended
CHS Inc. Earnings By segment (In millions $) Sept. 1 - Nov. 30 1stQ 2009 1stQ 2008 Energy 184.7 108.5 Ag Business 19.7 204.7 Processing (52.7) 20.2 Corporate and Other 4.5 4.4 Taxes (18.9) (36.9) Net Income $137.3 300.9
SOURCE CHS Inc.