CHS is reporting net income of $776 million for the 2018 fiscal year. That’s an increase of $704 million from last year. The biggest increase came from its energy business, due to stronger refinery margins. In an interview with the Red River Farm Network, CHS President and CEO Jay Debertin said there was good year-over-year improvement. “When we have these profits, they go right back to the people that own us.” Last year, CHS was only able to provide $10 million in equity revolvement. This year, cash patronage and equity redemptions will total $150 million. CHS had gains associated with the sale of the Council Bluffs pipeline and terminal, the sale of 34 convenience stores and the sale of its insurance platform. “We were really, really diligent about what assets we would sell; we looked through the lens of their strategic fit to the company as well as their economic performance.”
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