CHS Inc. Files 10-Q for Period Ending November 30, 2023

Ticker: CHSCO · Form: 10-Q · Filed: Jan 10, 2024

Sentiment: neutral

Topics: 10-Q, CHS Inc., Financial Report, Quarterly Filing, Agriculture

TL;DR

<b>CHS Inc. has submitted its quarterly report (10-Q) for the period ending November 30, 2023.</b>

AI Summary

CHS INC (CHSCO) filed a Quarterly Report (10-Q) with the SEC on January 10, 2024. CHS Inc. filed a 10-Q report for the period ending November 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on August 31. CHS Inc. is incorporated in Minnesota. The SIC code for CHS Inc. is 5150 (Wholesale-Farm Product Raw Materials).

Why It Matters

For investors and stakeholders tracking CHS INC, this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the first quarter of its fiscal year. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: — CHS INC shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting with no immediate red flags.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand CHS Inc.'s current business trajectory.

Key Players & Entities

FAQ

When did CHS INC file this 10-Q?

CHS INC filed this Quarterly Report (10-Q) with the SEC on January 10, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by CHS INC (CHSCO).

Where can I read the original 10-Q filing from CHS INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CHS INC.

What are the key takeaways from CHS INC's 10-Q?

CHS INC filed this 10-Q on January 10, 2024. Key takeaways: CHS Inc. filed a 10-Q report for the period ending November 30, 2023.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on August 31..

Is CHS INC a risky investment based on this filing?

Based on this 10-Q, CHS INC presents a moderate-risk profile. The filing is a standard 10-Q, indicating routine financial reporting with no immediate red flags.

What should investors do after reading CHS INC's 10-Q?

Review the detailed financial statements and segment performance within the 10-Q to understand CHS Inc.'s current business trajectory. The overall sentiment from this filing is neutral.

How does CHS INC compare to its industry peers?

CHS Inc. operates within the farm product raw materials wholesale industry, serving agricultural producers and consumers.

Are there regulatory concerns for CHS INC?

The filing is a standard 10-Q under the Securities Exchange Act of 1934, requiring public companies to report quarterly financial information.

Industry Context

CHS Inc. operates within the farm product raw materials wholesale industry, serving agricultural producers and consumers.

Regulatory Implications

The filing is a standard 10-Q under the Securities Exchange Act of 1934, requiring public companies to report quarterly financial information.

What Investors Should Do

  1. Analyze the revenue and profitability trends across different business segments (Energy, Ag, Corporate & Other).
  2. Examine any disclosed risk factors or management's discussion and analysis for potential challenges or opportunities.
  3. Compare key financial metrics with previous periods to identify performance changes.

Key Dates

Year-Over-Year Comparison

This is the 10-Q filing for the period ending November 30, 2023, following previous filings for the company.

Filing Stats: 4,432 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-01-10 12:45:33

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page No. Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 2 Condensed Consolidated Balance Sheets as of November 30 , 2023, and August 31, 202 3 2 Condensed Consolidated Statements of Operations for the Three Months Ended November 3 0 , 2023 and 2022 3 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended November 3 0 , 2023 and 2022 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ende d November 30 , 2023 and 2022 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 5. Other Information 36 Item 6. Exhibits 36

Signatures

Signatures 37 Unless the context otherwise requires, for purposes of this Quarterly Report on Form 10-Q, the words "CHS," "we," "us" and "our" refer to CHS Inc., a Minnesota cooperative corporation, and its subsidiaries as of November 30, 2023 .

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains, and our other CHS Inc. publicly available documents contain, and our officers, directors and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our businesses, financial condition and results of operations, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are discussed or identified in our filings made with the U.S. Securities and Exchange Commission, including in the "Risk Factors" discussion in Item 1A of CHS Annual Report on Form 10-K for the fiscal year ended August 31, 2023. These factors may include: changes in commodity prices; the impact of government policies, mandates, regulations and trade agreements; global and regional political, economic, legal and other risks of doing busine

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CHS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) November 30, 2023 August 31, 2023 (Dollars in thousands) ASSETS Current assets: Cash and cash equivalents $ 1,349,757 $ 1,765,286 Receivables 3,772,527 3,105,811 Inventories 4,251,580 3,215,179 Other current assets 1,213,331 1,042,373 Total current assets 10,587,195 9,128,649 Investments 3,831,854 3,828,872 Property, plant and equipment 4,877,071 4,869,373 Other assets 1,136,765 1,130,524 Total assets $ 20,432,885 $ 18,957,418 LIABILITIES AND EQUITIES Current liabilities: Notes payable $ 421,580 $ 547,923 Current portion of long-term debt 7,795 7,839 Accounts payable 4,331,301 2,930,607 Accrued expenses 597,196 773,054 Other current liabilities 1,608,546 1,639,771 Total current liabilities 6,966,418 5,899,194 Long-term debt 1,817,770 1,819,819 Other liabilities 951,308 786,016 Commitments and contingencies (Note 13) Equities: Preferred stock 2,264,038 2,264,038 Equity certificates 5,818,526 5,911,649 Accumulated other comprehensive loss ( 272,697 ) ( 265,395 ) Capital reserves 2,881,596 2,537,486 Total CHS Inc. equities 10,691,463 10,447,778 Noncontrolling interests 5,926 4,611 Total equities 10,697,389 10,452,389 Total liabilities and equities $ 20,432,885 $ 18,957,418 The accompanying notes are an integral part of the condensed consolidated financial statements (unaudited). 2 Table of Contents CHS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended November 30, 2023 2022 (Dollars in thousands) Revenues $ 11,390,658 $ 12,765,839 Cost of goods sold 10,745,708 11,886,704 Gross profit 644,950 879,135 Marketing, general and administrative expenses 252,056 234,666 Operating earnings 392,894 644,469 Interest expense 29,628 33,250 Other income ( 44,529 ) ( 24,289 ) Equity income from investments ( 109,051 ) ( 181,962 ) Income before income taxes 516,846 8

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