CHS reports record FY23 First Quarter

The nation’s largest agricultural cooperative is celebrating an unprecedented start to its fiscal year.

President Jay Debertin tells Brownfield CHS reported a record $782 million in net income during the first quarter.

“That’s up $330 million over a year ago, and just really good performance across all the platforms of CHS. Our energy, our ag, our investment in fertilizer manufacturing, just really strong performance across all our platforms.”

He says the strongest gains were in energy, which includes refined fuels and propane.

“Really it’s just the continued kind of bounce back from COVID-related affects that our first quarter a year ago was still carrying.”

Debertin also credits strong global demand for ag commodities compounded by the war in Ukraine.

“As their exports are limited and that just puts new kind of demands on supply points that heretofore weren’t necessarily supplying the parts of the world that they are today because Ukraine was supplying those parts of the world.”

Looking ahead, he says CHS remains well-positioned to maximize value for member cooperatives, farmer owners, and customers.

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