St. Paul, Minn.-Propelled by strong results from all business segments, CHS Inc. reported record earnings of $237.8 million on revenues of $4.7 billion for the third quarter ending May 31, 2007, compared with $136.6 million and $3.7 billion, respectively, for the third quarter of fiscal 2006. Nine-month results for the company also showed record earnings of $456.4 million on revenues of $12.2 billion, compared with $331 million and $10.4 billion for the same period in fiscal 2006. CHS said the favorable earnings were led by its energy and ag business segments, which include grain marketing, crop inputs, and retail operations. Earnings for the ag business segment totaled $77.1 million for the quarter and $108 million for the first nine months, compared with $49.7 million and $67.2 million, respectively, for the comparable periods last year. Earnings also increased over 2006 levels for the company’s processing businesses, at $5.2 million for the quarter and $47.9 million for the first nine months. In addition, CHS said it recorded solid returns from joint venture partners Ventura Foods LLC and Agriliance LLC. CHS announced last month that it would acquire the Agriliance wholesale crop nutrients business, while its joint venture partner Land O’Lakes Inc. assumes ownership of the operation’s wholesale crop protection products unit (GM June 25, p. 1). The two companies have also announced that they are exploring the repositioning of Agriliance retail operations (GM July 16, p. 1).
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