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CHS (CHSCP) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jan 7, 2026
CHS (CHSCP) reported revenue of $8.9B for the first quarter fiscal 2026 (Q1 FY26), -5% from a year earlier and +3% from the quarter before. Operating margin was 1.4%, net earnings $260M (2.9% of revenue).
CHS, Q1 FY26: revenue $8.9B (-5% year over year), operating margin 1.4%, net earnings $260M, operating cash flow −$338M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.9B | +3% | -5% |
| Gross profit | $389M | +18% | -3% |
| Operating profit | $121M | +125% | -12% |
| Net earnings | $260M | +32% | +6% |
| Operating cash flow | −$338M | -127% | — |
What changed
Revenue was $8.9B in Q1 FY26, down 5% year over year and up 3% from the previous quarter. Grains was the largest line at 59% of revenue. Grains lost $0.46B year over year (down 8%), 108% of the total change.
Gross margin was 4.4%, up 0.1 points from a year earlier. Operating profit was $0.12B, a 1.4% margin (down 0.1 points year over year). Operating expenses grew 2% against a revenue fall of 5%. Net earnings were $0.26B, up 6% year over year. The effective tax rate was 4.3%. Non-operating items added $0.15B, 55% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$0.34B. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items used $0.77B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.45B.
Questions
What was CHS' revenue in the first quarter fiscal 2026?
CHS (CHSCP) reported revenue of $8.9B for the first quarter fiscal 2026 (Q1 FY26), -5% from a year earlier and +3% from the quarter before.
Was CHS profitable in the first quarter fiscal 2026?
Operating profit was $121M (1.4% of revenue) and net earnings $260M.
Source: CHS 10-Q on SEC EDGAR.