CHS Inc., St. Paul, reported net income for the fiscal year ending Aug. 31, 2018 of $775.9 million, up from the prior year $71.6 million. Revenues were $32.7 billion, up $646 million from the prior year.
“Our fiscal 2018 results show the progress we are making on the priorities we set for CHS,” said Jay Debertin, CHS president and CEO. “Our year-over-year financial performance shows good improvement, our balance sheet is solid, and our relationships with cooperative owners are strong. The diverse CHS business platform allowed us to deliver improved earnings and enables us to return $150 million in cash patronage and equity redemptions to owners even as we navigated challenging market conditions.”
Ag pretax earnings were a positive $74.3 million, up from the prior year loss of $270.1 million. The prior year figure was driven by major impairments.