CHS Processing unit results down in quarter
July 9, 2010
by Eric Schroeder
ST. PAUL, MINN. — Net income in the Processing Division of CHS in the third quarter ended May 31 totaled $10,639,000, down 25% from $14,209,000 in the same year-ago period. Net sales for the Processing Division totaled $258,367,000, up 2% from $252,067,000. For the nine months ended May 31, earnings within the Processing Division rose to $47,595,000 driven by strong performance in the company’s wholly-owned oilseed processing operations along with better-than-expected results for portions of the Ventura Foods, L.L.C., vegetable oil-based joint venture and Horizon Milling, L.L.C., wheat milling joint venture. Overall, CHS net income in the third quarter totaled $145,449,000, up sharply from $64,569,000 in the same period a year ago. Net sales were $6,575,978,000, up from $6,163,119,000. For the nine months ended May 31, net income was $348,067,000, up 23% from $284,100,000, while sales fell 2% to $18,649,712,000.