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CHS 1st quarter earnings off 30 percent

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The nation’s largest farmer-owned cooperative has announced first quarter earnings are off 30 percent from a year ago.

Minnesota-based CHS, Incorporated reported net income of $266.5 million from September first to November 30th, 2015.

Revenues for the quarter were $7.7 billion, down from $9.5 billion during the same period in fiscal 2015.

The cooperative attributed losses to lower selling prices for energy and grain products, which make up a significant portion of the company’s business.

CHS says its ag segment earnings in the first quarter were half of last year’s total, while the energy segment declined 31 percent compared to fiscal 2015.

CHS operates in 16 states and Canada, serving 1,100 member-owned cooperatives.

 

 

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