CHS 2Q income off – Alert
CHS Inc. reported net income attributable to CHS dropped to $92.8 million on revenues of $8.4 billion for the second quarter ending Feb. 28, 2015 compared to the year-ago $260.1 million and $9.7 billion. A huge fall off in Energy income to $14.1 million from $229.1 million was the prime factor for the drop.
Income from the CHS Ag sector was up for the quarter at $58 million from the year-ago $38 million. And while the CHS Wholesale Crop Nutrient business reported a 10 percent drop in volumes for the quarter, income for the unit was up $20 million due to increased margins.
CHS-wide six month income was $471.5 million on revenues of $17.9 billion, down from the year-ago $502.2 million and $20.7 billion, respectively.