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CHS Inc. (CHSCP) is a leading global agribusiness cooperative founded by farmers, ranchers, and cooperatives in the United States. Committed to enhancing customer growth, CHS operates worldwide supplying energy, crop nutrients, grain marketing services, livestock feed, food ingredients, and business solutions. The company's diverse operations include petroleum refineries, pipelines, and manufacturing of refined fuels, lubricants, propane, and renewable energy products under the Cenex® brand.
With a strong emphasis on agriculture, CHS integrates grain, food, and energy resources into its operations. The company's energy segment focuses on the production and distribution of petroleum products, while the ag segment is a key revenue driver involved in grain and oilseed processing, crop inputs, and ethanol production. CHS also has a nitrogen production segment and earns significant revenue through agricultural activities.
CHS Inc. is dedicated to empowering agriculture and sustainability, providing essential crop inputs, market access, and risk management services to help farmers worldwide. With revenues of $47.8 billion in fiscal year 2022, CHS emphasizes environmental stewardship, economic viability, and community well-being in its operations.
CHS Inc. (NASDAQ: CHSCP) has appointed Sarah Bovim as vice president of government affairs, bringing over 17 years of experience, including roles at Whirlpool Corporation and Albertsons Companies. Bovim previously served as a senior U.S. trade negotiator at the Office of the U.S. Trade Representative and as an economist for the U.S. Department of Commerce and The World Bank. She succeeds Jim Zappa, who is retiring on April 3, 2023. Brandon Smith, executive vice president and general counsel, commended Bovim's extensive expertise in regulatory and legislative issues essential for representing CHS's farmer and cooperative owners.
On February 23, 2023, Farmers Union Oil Company of Berthold and Cenex awarded a $25,000 Hometown Pride grant to Kids Academy Daycare Center. This grant aims to support the daycare's essential services for working parents in Berthold and Carpio, which have faced childcare shortages. Founded in 2012, the daycare currently caters to approximately 30 children, fostering a supportive community environment. The grant will fund a new awning for outdoor gardening lessons, enhancing educational opportunities for children. Cenex has invested over $475,000 since 2019 to support local initiatives, demonstrating its commitment to community welfare.
CHS Inc. announces plans to construct a new grain shuttle facility in southeast South Dakota, enhancing its infrastructure in the Pacific Northwest corridor. The facility, set to begin construction in spring 2023, will feature industry-leading technology and safety measures, with a capacity of 1.1 million bushels. Located near Interstate 29 and State Highway 44, this facility aims to improve market access for local farmers and boost operational efficiency. This strategic investment is designed to strengthen CHS’s supply chain and support the agricultural sector, while promoting a safer environment for employees and community members.
CHS Inc. and Cargill have announced an expansion of their joint venture TEMCO LLC by integrating Cargill's export grain terminal in Houston, Texas. This addition aims to enhance export capabilities for grains and oilseeds via the Houston port, marking an important move for U.S. farmers to access global markets. TEMCO currently operates three facilities in the Pacific Northwest and has been a significant player in grain distribution for over 24 years. The Houston terminal boasts a capacity of 250 million bushels annually, positioning it as a vital asset for expanding market reach and providing new opportunities for U.S. farmers.
CHS Inc. (NASDAQ: CHSCP) reported a strong first quarter for fiscal 2023, ending November 30, 2022, with a net income of $782.6 million, up from $452.0 million the previous year. Revenues rose to $12.8 billion, a 17% increase compared to $10.9 billion in the same quarter last year. Key drivers included robust global demand for commodities and improved refining margins in the Energy segment. However, some challenges persist in the Ag segment, including unfavorable pricing for agronomy products and decreased volumes.
CHS Inc. held its annual meeting on December 1-2, 2022 in Minneapolis, Minnesota, where owners elected five board members for three-year terms. Reelected members include Al Holm, Kevin Throener, Hal Clemensen, and Mark Farrell, with Jerrad Stroh taking over for retired director Steve Riegel. The board also saw the election of officer roles, with Dan Schurr as chair. Additionally, owners approved amendments to the bylaws to enhance participation in governance.
Cooperative Ventures has made its initial investment in Sabanto, a company focused on autonomous tractor technology for row crops. This investment aims to tackle labor shortages in agriculture while enhancing sustainability. Sabanto's retrofitting of tractors allows for fully-autonomous operations, including planting and spraying, across thousands of acres. Leaders from GROWMARK and CHS emphasize the strategic importance of this technology, noting its potential to reduce costs and improve operational efficiency for farmers and agricultural retailers.
Farmers Union Oil of Southern Valley and Cenex, the energy brand of CHS, awarded a $25,000 grant to Cares for Cancer to assist community members facing cancer challenges. This grant will enable the organization to provide an additional 50 $500 grants monthly, supporting local families in need. Since its establishment in 2006, Cares for Cancer has evolved from a small volunteer group to a nonprofit with 28 members, helping alleviate financial burdens for those battling illnesses. By the end of 2022, Cenex Hometown Pride grants will total over $400,000.
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