CHS Inc., one of the nation’s largest agribusinesses, reported a net income of $1.9 billion for the fiscal year ending on August 31 compared to $1.7 billion for fiscal year 2022. Key drivers included consolidated revenues of $45.6 billion for fiscal year 2023 compared to $47.8 billion for fiscal year 2022. In the company’s ag segment, robust meal and oil demand contributed to higher earnings in the company’s soybean and canola processing business.
“The support of our member cooperatives and farmer-owners, dedication of our employees, exceptional operational performance, and favorable market conditions enabled us to achieve the strongest earnings in our history during fiscal year 2023,” says Jay Debertin, president and CEO of CHS Inc.
As a result of those earnings, CHS intends to return $730 million in cash patronage and equity redemptions to its member cooperatives and farmer-owners in fiscal year 2024, demonstrating its “commitment to share profits” with producers.
NAFB News Service
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