CHS Inc. reported a 51 percent increase in earnings for the third-quarter ending May 31, 2014 to $379.5 million from the year-ago $250.8 million. Revenues were comparable with the year-ago figure at almost $12 billion.
Earnings were up due to a one-time gain attributed to the establishment of a new flour milling joint venture as well as the stronger performance by retail agronomy, wholesale crop nutrients and grain marketing.
Third-quarter Ag earnings were $109.4 million, up from the year-ago $40 million.
CHS-wide, nine month earnings were up only 1 percent to $881.7 million versus the year-ago $869.6 million. Nine-month revenues were off 3 percent from the year-ago $33.5 billion, due mainly to lower grain prices.
Nine-month Ag earnings were $257.4 million, up from $202.7 million.