Filing Flows › CHS (CHSCP) › Q3 FY26 › vs Q2 FY26
CHS (CHSCP) Q3 FY26 vs Q2 FY26 (quarter over quarter)
CHS's revenue rose $3.2B (+39%) from $8.4B in Q2 FY26 to $11.6B in Q3 FY26. The biggest changes: Agronomy +$1.5B (+149%); Energy +$1.2B (+58%); Grains +$484M (+9%). Gross margin 3.5% against 0.3% (+3.2 pts).
CHS, Q3 FY26: revenue $11.6B (+19% year over year), operating margin 0.9%, net earnings $267M, operating cash flow $1.1B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 3.5% | 0.3% | +3.2 pts |
| Operating margin | 0.9% | -2.9% | +3.8 pts |
| Net margin | 2.3% | -1.8% | +4.1 pts |
| Free cash flow margin | 8.5% | -8.1% | +16.6 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Grains | $5.7B | $5.2B | $484M | +9% |
| Energy | $3.3B | $2.1B | $1.2B | +58% |
| Agronomy | $2.6B | $1.0B | $1.5B | +149% |
| Corporate and Services | $47.2M | $53.1M | −$5.8M | -11% |
| Revenue | $11.6B | $8.4B | $3.2B | +39% |
| Gross profit | $411M | $25.8M | $385M | 16× |
| Cost of revenue | $11.2B | $8.3B | $2.8B | +34% |
| Other income, net | $174M | $76.8M | $97.1M | +126% |
| Operating profit | $108M | −$242M | $350M | — |
| Operating expenses | $302M | $268M | $34.7M | +13% |
| Pre-tax earnings | $282M | −$165M | $447M | — |
| Net earnings | $267M | −$147M | $415M | — |
| Income tax | $14.7M | −$17.8M | $32.5M | — |
| Depreciation & amortization | $165M | $173M | −$7.3M | -4% |
| Working capital & other | $675M | −$594M | $1.3B | — |
| Operating cash flow | $1.1B | −$569M | $1.7B | — |
| Free cash flow (OCF − capex) | $985M | −$674M | $1.7B | — |
| Capital expenditures | $123M | $105M | $18.4M | +18% |
Questions
How much did CHS's revenue grow quarter over quarter in Q3 FY26?
CHS's revenue rose $3.2B (+39%) from $8.4B in Q2 FY26 to $11.6B in Q3 FY26.
What drove CHS's revenue change in Q3 FY26?
Agronomy +$1.5B (+149%); Energy +$1.2B (+58%); Grains +$484M (+9%).