St. Paul / MN. (chs) CHS Inc., the United States´ leading farmer-owned cooperative, reported earnings of 899,7 million USD through the third quarter of its 2012 fiscal year. Earnings attributed to CHS operations for nine months of fiscal 2012 – September 01, 2011 to May 31, 2012 – increased 19 percent over the 754,8 million USD recorded through the third quarter of fiscal 2011. Revenues for the nine-month period of fiscal 2012 were 29,6 billion USD, compared with 26,3 billion USD for fiscal 2011, reflecting continued higher values for the commodity energy and crop nutrients products that comprise much of CHS business.
For the third quarter – March 01 to May 31, 2012 – CHS posted income of 405,1 million USD, compared with 358,5 million USD for the same period in fiscal 2011, an increase of 13 percent. Revenues for the quarter were 11,0 billion USD, compared with 10,5 billion USD for the third quarter of fiscal 2011.
Earnings for the third quarter reflected strong performance across its Energy segment which includes refineries at Laurel, Montana, and McPherson, Kansas. Year over year, nine-month earnings declined within the company´s Ag operations – which consist of crop nutrients, grain marketing, oilseed processing and its Country Operations locally controlled retail service centers. Heavy spring fieldwork demand contributed to strong performance for crop nutrients and local retail operations, with Country Operations achieving record third quarter earnings. Lower grain marketing earnings were attributed to reduced U.S. export volumes and lower margins. While the company´s oilseed processing business reported sound manufacturing margins, earnings decreased due to increased costs related to recent acquisitions.
CHS reports results for its business services operations and its two food processing-related joint ventures under the Corporate and Other category. Lower earnings for CHS financing businesses, as well as decreased earnings from the company´s two food-related joint ventures, contributed to reduced overall results in this category year-to-date.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Farmer Bros.: Reports Fiscal Q1-2025 Financial Results
- Red Robin: Reported Results for Fiscal Q3-2024
- Yum China: Reports Third Quarter 2024 Results
- Utz Brands: Reports Third Quarter 2024 Results
- Lancaster Colony: Reports Q1-2024 Sales And Earnings
- CCC Announces New Reporting Lines for Costa Coffee
- Union Capital: Completes Sale of FitCrunch and Bakery Barn
- Fazer: electrifies steam production at confectionery factory
- DoorDash: Releases Q3-2024 Financial Results
- Publix: Reports Q3-2024 Results and Stock Price
- Chipotle: Announces Third Quarter 2024 Results
- Kesko Group: Announces 9M-2024 Financial Results
- P.E. Company Acquires Double B Foods Inc.
- Bühler: Grain Innovation Center opens its doors in Uzwil
- Orkla ASA: reports strong profit improvement in Q3-2024
- Apetit PLC: announces 9M-2024 financial results
- Cloetta AB: announces Q3-2024 interim report
- Axfood AB: Reports Q3-2024 Financial Results
- Fodelia Group: 2024 Time of good growth and development
- Paulig Group: starts new salsas production in Estonia