CHS updates

CHS reports fiscal year 2021 net income of $554.0 million

image of a combine soybeans in a field in autumn

Nov 04, 2021

31% Increase in Net Income Over the Prior Fiscal Year

Strong Global Demand for Grains and Oilseeds Drive Results

Highest Revenue for the Company Since Fiscal Year 2014

CHS Inc., the nation’s leading agribusiness cooperative, today reported net income of $554.0 million for the fiscal year ended Aug. 31, 2021, reflecting an increase of 31% or $131.5 million compared to fiscal year 2020.

Key financial drivers for fiscal year 2021 include:

  • Consolidated revenues of $38.4 billion for fiscal year 2021 compared to $28.4 billion for fiscal year 2020, a year-over-year increase of 35%.
  • 由于全球对谷物和油籽的强劲需求推高了大宗商品价格,以及美国与外国贸易伙伴之间全年的贸易关系得到改善,十大国际老虎机平台农业部门的收入较前一年显著提高.
  • Equity earnings from investments, particularly from CF Nitrogen and Ventura Foods, were a significant source of earnings during fiscal year 2021.
  • 随着COVID-19大流行对需求的冲击开始消退,十大国际老虎机平台精炼燃料业务的利润率提高,导致利润率增加, 由此带来的利润改善被异常高的可再生十大国际老虎机平台信贷成本和十大国际老虎机平台炼油厂加工的加拿大重质原油价格较低所抵消, resulting in lower earnings.

“十大国际老虎机平台的员工再次证明了他们的十大国际老虎机平台,为十大国际老虎机平台的所有者和全球客户提供产品和服务, driving a significant increase in earnings in fiscal year 2021 over the prior year,” said Jay Debertin, president and CEO of CHS Inc. "For the year, overall demand for grain and oilseed helped drive strength in agriculture, as well as crop nutrients and crop protection products and services. Based on fiscal year 2021 earnings, 该十大国际老虎机平台将在2022财政年度向成员合作社和个人所有者返还约5000万美元的现金赞助和1亿美元的股权赎回."

Debertin added, “十大国际老虎机平台在创新方面的投资有助于增强十大国际老虎机平台的财务实力,并在十大国际老虎机平台广阔的网络中实现效率提高.  At the same time, 十大国际老虎机平台正在增强依靠CHS的农场主和客户的经验,帮助他们满足全球对农产品日益增长的需求, opening new opportunities for growth.”

Fiscal Year 2021 Business Segment Results

The fiscal year 2021 segment results are:


Pretax loss of $10.6 million represents a $235.9 million decrease versus the prior year and reflects:

  • 随着COVID-19大流行对需求的冲击开始消退,十大国际老虎机平台精炼燃料业务的利润率在过去一年中有所改善, 利润率的提高受到了可再生十大国际老虎机平台信贷成本异常高和十大国际老虎机平台炼油厂加工的加拿大重质原油价格较低的负面影响, resulting in lower earnings.


Pretax earnings of $298.1 million represent a $244.4 million increase versus the prior year and reflect:

  • Favorable weather conditions for the fall harvest and spring planting seasons, 与前一年相比,美国与外国贸易伙伴之间全年的贸易关系改善,以及2021财年十大国际老虎机平台加工业务的有利市场条件,促进了十大国际老虎机平台大部分农业部门的销量和利润率的增长.
  • 十大国际老虎机平台大部分农业部门的利润增长被谷物和油籽利润下降部分抵消, including the impact of mark-to-market losses that are expected to reverse over time.

Nitrogen Production

Pretax earnings of $121.0 million represent a $69.2 million increase versus the prior year and reflect:

  • 尿素和硝酸铵销售价格的提高对收入的显著增长做出了贡献, which was partially offset by increased natural gas costs.


Pretax earnings of $67.9 million represent a $43.7 million increase versus prior year and reflect:

  • Favorable market conditions for edible oils and improved sales volumes for Ventura Foods, compared with the early stages of the COVID-19 pandemic in fiscal 2020, drove earnings higher.

Corporate and Other

Pretax earnings of $38.9 million represent a $7.1 million increase versus prior year and reflect:

  • Earnings increased primarily due to higher income from our equity method investment in Ardent Mills, as a result of strong sales volumes and improved commodity margins in fiscal year 2021.

CHS Inc. ( is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, CHS is committed to creating connections to empower agriculture, helping its farmer-owners, customers and other stakeholders grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, seed, crop protection products, grain marketing services, production and agricultural services, animal nutrition products, foods and food ingredients, and risk management services. The company operates petroleum refineries and pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.

This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.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. Forward-looking statements are neither historical facts nor assurances of future performance. 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, 在难以预测的情况下发生的风险和变化,其中许多是CHS无法控制的. CHS的实际结果和财务状况可能与前瞻性报表中指出的有重大差别. Therefore, you should not place undue reliance on any of these forward-looking statements. 可能导致CHS的实际结果和财务状况与前瞻性报表中指出的有重大差异的重要因素在与美国财政部的CHS文件中进行了讨论或确定.S. Securities and Exchange Commission, 包括在截止8月31日的10-K表格年度报告第1A项的“风险因素”讨论中, 2021. 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 impact of the ongoing COVID-19 outbreak or other similar outbreaks; 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 and casualty losses; the impact of workforce factors; our funding needs and financing sources; financial institutions’ and other capital sources’ policies concerning energy-related businesses; uncertainty regarding the transition away from LIBOR and the replacement of LIBOR with an alternative reference rate; 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; the impairment of long-lived assets; and other factors affecting our businesses generally. CHS在本文件中所作的任何前瞻性陈述均仅基于目前可供CHS使用的信息,且仅以发表声明当日为准. 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.

chart of CHS Financial Results