Kanza Q3 Financials for 2020

Kanza Cooperative Association announced solid earnings in Q3 despite the ongoing challenges of the global pandemic. The organization added a net savings of $807 ($354k local savings) for a year-to-date total of $7.5 Million.

Third quarter highlights include:

  • Agronomy Department had above expected volume and margin on some additional herbicide and pesticide runs.
  • Wet weather provided a challenge with fuel deliveries to pivots in the early summer but additional demand for fall harvest and wheat drilling helped the fuel department keep on track.
  • C-Store fuel volumes have steadily recovered from early in the year and are on budget through the third quarter.
  • LP deliveries were just good in the East but hadn’t gotten started yet in the West.
  • Cattle feed demand went up substantially in September as the pasture grass dried up enabling a strong finish to the quarter for the Feed Department.

“It has been a very challenging year for all of us but the staff has done an excellent job of reacting to these challenges in finding ways to deliver the goods and services our members need to have an equally successful year on the farm,” said Kanza Chief Financial Officer Brad Riley. “We learned a lot about the high quality of people we have throughout the departments and their dedication to the membership.”

Web Financials 2020 Q3