St. Paul, Minn.-CHS Inc. reported record earnings of $300.9 million on sales of $6.5 billion for the first quarter ending Nov. 30, 2007. This compares to the year-ago $136.4 million and $3.8 billion, respectively. The increase was driven by higher prices for grain and energy, along with the inclusion for the first time of crop nutrient sales, which previously were part of the joint venture Agriliance LLC. Ag business earnings were $204.7 million versus the year-ago $28.1 million, a record. This compares to $108.5 million for the CHS energy segment, versus the year-ago $111.5 million. CHS cited grain marketing, retail operations, and its nutrient business for the success of the ag business. Ag business earnings also included a gain of $91.7 million on the company’s sale of stock of CF Industries Inc. This was CHS’s remaining 1.6 million shares of CF stock, with proceeds being $108.3 million.
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