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CHS (CHSCP) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jul 8, 2026
CHS (CHSCP) reported revenue of $11.6B for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and +39% from the quarter before. Operating margin was 0.9%, net earnings $267M (2.3% of revenue).
CHS, Q3 FY26: revenue $11.6B (+19% year over year), operating margin 0.9%, net earnings $267M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.6B | +39% | +19% |
| Gross profit | $411M | 16× | +25% |
| Operating profit | $108M | — | +53% |
| Net earnings | $267M | — | +15% |
| Operating cash flow | $1.1B | — | +59% |
| Free cash flow | $985M | — | +89% |
What changed
Revenue was $11.6B in Q3 FY26, up 19% year over year and up 39% from the previous quarter. Grains was the largest line at 49% of revenue. Energy added $1.4B year over year (up 73%), 77% of the total change.
Gross margin was 3.5%, up 0.2 points from Q3 FY25. Operating profit was $0.11B, a 0.9% margin (up 0.2 points year over year). Of the extra revenue versus Q3 FY25, 2% reached operating profit, above the 1% margin then. Operating expenses grew 17% against revenue growth of 19%. Net earnings were $0.27B, up 15% year over year. The effective tax rate was 5.2%. Non-operating items added $0.17B, 62% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.1B (up 59% year over year), 414% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items added $0.68B. Capital expenditures of $0.12B left free cash flow of $1.0B.
Questions
What was CHS' revenue in the third quarter fiscal 2026?
CHS (CHSCP) reported revenue of $11.6B for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and +39% from the quarter before.
Was CHS profitable in the third quarter fiscal 2026?
Operating profit was $108M (0.9% of revenue) and net earnings $267M.
Source: CHS 10-Q on SEC EDGAR.