CHS reports first quarter fiscal year 2024 earnings

Strong energy and oilseed processing operations contributed to $522.9 million in first quarter net income

CHS Inc., the nation’s leading agribusiness cooperative, today released results for its first quarter ended Nov. 30, 2023. The company reported quarterly net income of $522.9 million compared to $782.6 million in the first quarter of fiscal year 2023.

First quarter fiscal year 2024 highlights:

• Earnings were strong across our segments, although down from record first quarter earnings in fiscal year 2023.
• Revenues were $11.4 billion, compared to $12.8 billion in the first quarter of fiscal year 2023.
• 我们的皇冠hga010安卓二维码部门在精炼燃料业务中经历了有利的市场条件, reflecting sustained global demand for energy products.
• In our Ag segment, 持续强劲的豆粕和食用油需求推动了我们油籽加工业务的强劲盈利，这被疲软的美国市场所抵消.S. export demand for grains and oilseeds.
• Equity method investments performed well, with our CF Nitrogen investment being the largest contributor.

"CHS earnings were strong for the first quarter, despite a relative decline from last year's record earnings,” said Jay Debertin, president and CEO of CHS Inc. “我们对执行力和效率改进的关注增强了所有业务的业绩. 我们继续看到多元化农业和皇冠hga010安卓二维码投资组合的好处, our strategic footprint and investments in our supply chain. 我们国内大豆和油菜籽加工业务的成功以及我们的国际原产地能力帮助我们为我们的农场主的业务增加了价值."

Energy

Pretax earnings of $266.8 million represent a $129.8 million decrease versus the prior year period and reflect:

• 由于贸易流量恢复到更正常的水平，炼油利润率较上年高点有所下降
• More favorable costs for renewable energy credits
• Higher margins in our propane business

Ag

Pretax earnings of $169.7 million represent a $117.6 million decrease versus the prior year period and reflect:

• 我们的谷物和油籽以及油籽加工业务的利润率下降，主要是由于按市值计价的时间调整和疲软的美国出口.S. export demand
• 批发和零售农艺产品的需求增加，由于全球市场条件，销售价格仍然较低

Nitrogen Production

Pretax earnings of $36.5 million represent a $60.与去年同期相比，减少了400万美元，反映了尿素和UAN市场价格下跌导致CF氮气的股权收入减少.

Corporate and Other

Pretax earnings of $43.8 million represent a $7.1 million increase versus the prior year period, 主要反映由于利率上升而增加的利息收入.

CHS Inc. Earnings*
by Segment
(in thousands $)

*Earnings is defined as income (loss) before income taxes.

CHS Inc. (yegiq.jkchealthtech.com) creates connections to empower agriculture. 作为全球领先的农业综合企业和美国最大的农民合作社, CHS serves customers in 65 countries and employs nearly 10,000 people worldwide. We provide critical crop inputs, 市场准入和风险澳门皇冠赌场平台服务，帮助农民养活世界. 我们多元化的农艺、谷物、食品和皇冠hga010安卓二维码业务录得45美元的收入.6 billion in fiscal year 2023. 我们通过皇冠hga010安卓二维码成为环境的管家来促进可持续发展, 建立经济活力，加强社区和员工福利.

This document and other CHS Inc. publicly available documents contain, and CHS officers, directors and representatives may from time to time make, “前瞻性陈述”是指美国法律规定的安全港条款.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. 前瞻性陈述既不是历史事实，也不是对未来业绩的保证. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, financial condition and results of operations, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, 难以预测的风险和环境变化，其中许多不在卫生服务中心的控制范围之内. CHS的实际结果和财务状况可能与前瞻性陈述中所示的有重大差异. 因此，您不应过分依赖这些前瞻性陈述. 可能导致CHS实际结果和财务状况与前瞻性陈述中显示的重大差异的重要因素在CHS提交给美国的文件中进行了讨论或确定.S. Securities and Exchange Commission, 包括在截至8月31日的财政年度CHS年度报告10-K表格第1A项的“风险因素”讨论中, 2023. These factors may include: changes in commodity prices; the impact of government policies, mandates, regulations and trade agreements; global and regional political, economic, legal and other risks of doing business globally; the ongoing war between Russia and Ukraine; the escalation of conflict in the Middle East; the impact of inflation; the impact of epidemics, pandemics, outbreaks of disease and other adverse public health developments, including COVID-19; the impact of market acceptance of alternatives to refined petroleum products; consolidation among our suppliers and customers; nonperformance by contractual counterparties; changes in federal income tax laws or our tax status; the impact of compliance or noncompliance with applicable laws and regulations; the impact of any governmental investigations; the impact of environmental liabilities and litigation; actual or perceived quality, safety or health risks associated with our products; the impact of seasonality; the effectiveness of our risk management strategies; business interruptions, casualty losses and supply chain issues; the impact of workforce factors; our funding needs and financing sources; financial institutions’ and other capital sources’ policies concerning energy-related businesses; technological improvements that decrease the demand for our agronomy and energy products; our ability to complete, integrate and benefit from acquisitions, strategic alliances, joint ventures, divestitures and other nonordinary course-of-business events; security breaches or other disruptions to our information technology systems or assets; the impact of our environmental, social and governance practices, including failures or delays in achieving our strategies or expectations related to climate change or other environmental matters; the impairment of long-lived assets; the impact of bank failures; and other factors affecting our businesses generally. CHS在本文件中所作的任何前瞻性陈述仅基于CHS目前可获得的信息，且仅在陈述当日有效. CHS undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise except as required by applicable law.

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