Inver Grove Heights-Based CHS Posts Record Earnings

Inver Grove Heights-based CHS, Inc., the nation's largest cooperative, reported earnings of $961.4 million for its 2011 fiscal year, the highest in the company's 80-year history.

The company's most recent earnings figure surpasses a previous record of $803 million—which was set in 2008—and represents a 91 percent growth over last years total reported earnings of roughly $502 million.

Revenues for fiscal 2011 reached $36.9 billion, compared with $25.3 billion for fiscal 2010, reflecting continued higher values for the energy, grain and crop nutrients products that comprise the majority of CHS business, the company wrote in a press release published on Monday.

In the fourth quarter of the 2011 fiscal year alone, CHS posted income of $206.5 million, a significant increase over the $154.1 million in fourth-quarter income the company reported in 2010.

Owned by farmers, ranchers and agricultural cooperatives, CHS supplies energy, crop nutrients, livestock feed, grain, food and food ingredients and insurance, financial and risk management services. The company also operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex-brand refined fuels, lubricants, propane and renewable energy products. CHS, a Fortune 100 company, employs roughly 9,000 people worldwide.

Earlier this year, the company purchased Agri Point Limited, major European grain producer, for an undisclosed amount.

Earnings this year were led by the company's Energy segment, consisting of refined fuels, propane, renewable fuels marketing and lubricants, according to the press release.