Key Takeaways:
- Net income of $597.9 million for fiscal year 2025, compared to $1.1 billion in 2024
- Consolidated revenues totaled $35.5 billion, reflecting lower commodity prices year-over-year
- Energy segment reported a pretax loss due to lower crude discounts, tighter margins, and planned maintenance
- Ag segment remained strong in crop protection and nutrients despite lower oilseed crush margins and export challenges
- CHS to return $120 million in cash patronage and equity redemptions to members in fiscal year 2026
Financial overview
CHS Inc., a global agribusiness cooperative, reported net income of $597.9 million for the fiscal year ended August 31, 2025, compared with $1.1 billion in the previous year. Consolidated revenues declined to $35.5 billion from $39.3 billion in 2024, primarily due to lower commodity prices.
President and CEO Jay Debertin said that despite a challenging market environment, CHS achieved strong volumes across its core businesses, demonstrating operational resilience and the strength of the cooperative model. The company’s performance supports a planned return of $120 million in cash patronage and equity redemptions to farmer-owners and member cooperatives in 2026.
CHS Inc. segment performance
Energy
The Energy segment reported a pretax loss of $7 million, a decrease of $436 million from fiscal 2024. The decline resulted from narrower discounts on Canadian crude oil, tighter refining margins due to higher global fuel supply, and planned maintenance at the McPherson, Kansas refinery that temporarily reduced output of higher-margin products.
Ag
The Ag segment generated pretax earnings of $245.7 million, down $97 million year-over-year. Lower margins in grain and oilseed products were driven by global oversupply and reduced U.S. export competitiveness. However, higher sales volumes in crop protection and nutrients, coupled with strong retail performance and solid operational execution, partially offset these declines.
Nitrogen production
Pretax earnings in the Nitrogen Production segment rose to $159.5 million, up $8.3 million from 2024. The increase reflected continued strong results from CF Nitrogen, the company’s joint venture with CF Industries, supported by favorable urea market conditions.
Corporate and other
The Corporate and Other segment delivered pretax earnings of $216.6 million, an increase of $41.8 million compared to the prior year. The growth was primarily attributed to strong performance from the Ventura Foods joint venture.
CHS Leadership commentary
“In a year shaped by unfavorable market conditions, including international trade challenges and tariffs, CHS delivered strong volumes across our businesses,” said Debertin. “We had a solid year that allows us to return meaningful value to our farmer-owners and member cooperatives while continuing to strengthen the cooperative system.”
Debertin added that CHS remains committed to building more resilient supply chains in grain, agronomy, and energy, emphasizing cost management and operational excellence as key drivers for future growth.
Outlook for CHS Inc.
CHS Inc. expects continued emphasis on supply chain efficiency, capital discipline, and strategic investments across its agronomy, energy, and grain operations. While global market volatility and trade uncertainties remain, the company plans to focus on supporting member cooperatives through improved logistics, technology adoption, and cost-effective product delivery.
For fiscal year 2026, CHS intends to maintain its commitment to returning profits to members, further reinforcing its role as the nation’s leading agricultural cooperative.
Read the complete financial report here.
