Inver Grove Heights, September 4 — CHS Inc., the largest farmer-owned cooperative in the United States, reported net income of $267.4 million attributable to CHS and revenues of $11.6 billion for the third quarter of fiscal year 2026, compared to net income of $232.2 million and revenues of $9.8 billion in the third quarter of fiscal year 2025. The results reflect strong refining margins driven by global markets, which were mostly offset by record-high renewable energy credit costs.
Jay Debertin, president and CEO of CHS, commented that the diversity of the company’s ag and energy businesses is a key strength, as shifting policy and market conditions create both headwinds and tailwinds. The Energy segment, which includes refined fuels, propane, and lubricants, reported pretax earnings of $10.1 million, a $66.6 million increase versus the prior year period.
The Grains segment, primarily including corn, oilseeds, wheat, and specialty grains, reported a pretax loss of $33.6 million, a $0.7 million decrease versus the prior year period. The Agronomy segment, including crop nutrients, crop protection, and CF Nitrogen, reported pretax earnings of $275.0 million, a $27.6 million increase versus the prior year period.
The Corporate and Other segment, which includes CHS Capital, CHS Hedging, and the Ardent Mills and Ventura Foods joint ventures, reported pretax earnings of $30.6 million, a $70.2 million decrease versus the prior year period, primarily due to a gain on sale of a business by Ventura Foods in 2025 that did not reoccur. CHS Inc. serves customers in 65 countries and provides crop inputs, market access, and risk management services.
The company is headquartered in Inver Grove Heights, Minnesota, and operates across agriculture and energy sectors. Debertin noted strong operational execution during the busy spring planting season but acknowledged that ongoing market volatility creates a challenging environment for farmers and member cooperatives. The company’s financial segments have changed starting in fiscal year 2026 to align with its new end-to-end product line operating model, and prior period segment information has been recast accordingly.
As the largest farmer-owned cooperative in the United States, CHS Inc.’s performance has a significant impact on the agriculture and energy sectors. Investors and industry observers will be watching the company’s future developments closely, particularly in light of the changing policy and market landscape. Looking ahead, the key will be how CHS Inc. navigates the challenges and opportunities presented by shifting market conditions and policy developments.
With its diverse range of businesses and global presence, the company is well-positioned to adapt to changing circumstances. As the market continues to evolve, CHS Inc.’s ability to execute operationally and respond to emerging trends will be crucial in determining its future success.
