CHS Inc. Files 10-Q for Period Ending February 29, 2024

Ticker: CHSCO · Form: 10-Q · Filed: Apr 3, 2024

Sentiment: neutral

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

TL;DR

<b>CHS Inc. has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

CHS INC (CHSCO) filed a Quarterly Report (10-Q) with the SEC on April 3, 2024. CHS Inc. filed a 10-Q report for the period ending February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on August 31st. CHS Inc. is incorporated in Minnesota. The company's business address is 5500 Cenex Drive, Inver Grove Heights, MN 55077.

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 second quarter of fiscal year 2024. Investors and stakeholders can use this report to assess the company's financial health and make informed decisions.

Risk Assessment

Risk Level: low — CHS INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine periodic report for publicly traded companies, indicating no immediate or unusual risks.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand CHS Inc.'s performance and outlook.

Key Numbers

Key Players & Entities

FAQ

When did CHS INC file this 10-Q?

CHS INC filed this Quarterly Report (10-Q) with the SEC on April 3, 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 April 3, 2024. Key takeaways: CHS Inc. filed a 10-Q report for the period ending February 29, 2024.. The filing covers the second quarter of fiscal year 2024.. The company's fiscal year ends on August 31st..

Is CHS INC a risky investment based on this filing?

Based on this 10-Q, CHS INC presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine periodic report for publicly traded companies, indicating no immediate or unusual risks.

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

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand CHS Inc.'s performance and outlook. The overall sentiment from this filing is neutral.

How does CHS INC compare to its industry peers?

CHS Inc. operates in the wholesale of farm product raw materials sector. This 10-Q filing provides insights into its performance within this industry.

Are there regulatory concerns for CHS INC?

As a publicly traded entity, CHS Inc. is subject to SEC regulations and reporting requirements, including the filing of 10-Q forms.

Industry Context

CHS Inc. operates in the wholesale of farm product raw materials sector. This 10-Q filing provides insights into its performance within this industry.

Regulatory Implications

As a publicly traded entity, CHS Inc. is subject to SEC regulations and reporting requirements, including the filing of 10-Q forms.

What Investors Should Do

  1. Analyze the revenue and net income figures for the reported quarter and compare them to prior periods.
  2. Examine any disclosed risk factors or management discussions that may impact future performance.
  3. Review the company's balance sheet and cash flow statement for liquidity and solvency indicators.

Key Dates

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 10-K annual report.

Filing Stats: 4,472 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-04-03 11:01:00

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 February 2 9, 202 4 , and August 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended February 29, 2024 , and February 28, 20 23 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended February 29 , 202 4 , and February 28, 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended February 29 , 202 4 , and February 28, 2023 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 5. Other Information 45 Item 6. Exhibits 45

Signatures

Signatures 46 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 February 29, 2024 .

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 busines

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CHS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) February 29, 2024 August 31, 2023 (Dollars in thousands) ASSETS Current assets: Cash and cash equivalents $ 633,292 $ 1,765,286 Receivables 3,369,864 3,105,811 Inventories 3,931,631 3,215,179 Other current assets 1,388,321 1,042,373 Total current assets 9,323,108 9,128,649 Investments 3,780,129 3,828,872 Property, plant and equipment 4,961,507 4,869,373 Other assets 1,099,558 1,130,524 Total assets $ 19,164,302 $ 18,957,418 LIABILITIES AND EQUITIES Current liabilities: Notes payable $ 412,800 $ 547,923 Current portion of long-term debt 157,394 7,839 Accounts payable 2,767,797 2,930,607 Accrued expenses 644,982 773,054 Other current liabilities 1,924,365 1,639,771 Total current liabilities 5,907,338 5,899,194 Long-term debt 1,671,241 1,819,819 Other liabilities 818,160 786,016 Commitments and contingencies (Note 13) Equities: Preferred stock 2,264,038 2,264,038 Equity certificates 5,788,203 5,911,649 Accumulated other comprehensive loss ( 267,269 ) ( 265,395 ) Capital reserves 2,976,811 2,537,486 Total CHS Inc. equities 10,761,783 10,447,778 Noncontrolling interests 5,780 4,611 Total equities 10,767,563 10,452,389 Total liabilities and equities $ 19,164,302 $ 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 Six Months Ended February 29, 2024 February 28, 2023 February 29, 2024 February 28, 2023 (Dollars in thousands) Revenues $ 9,087,480 $ 11,306,848 $ 20,478,138 $ 24,072,687 Cost of goods sold 8,721,588 10,922,581 19,467,296 22,809,285 Gross profit 365,892 384,267 1,010,842 1,263,402 Marketing, general and administrative expenses 298,230 241,925 550,286 476,591 Operating earnings 67,662 142,342 460,556 786,811

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