CHS reported net income of $180.1 million for the first quarter of the 2018 fiscal year, which ended Nov. 30, 2017. The results compared with net income of $209.2 million for the same period one year earlier.
Consolidated revenues for the first quarter of fiscal 2018 were $8.0 billion, equal to the same period in fiscal 2017. Pretax income was $199.6 million and $225.6 million for the first quarters of fiscal 2018 and 2017, respectively.
Despite challenging market conditions, CHS experienced a solid first quarter, thanks to our continued focus on three key priorities: strengthening relationships, sharpening operational excellence and restoring financial flexibility,” said CHS president and CEO Jay Debertin.
“In the first quarter, we recorded solid earnings from our businesses and reduced long-term debt. These actions are helping to strengthen and grow CHS.”