Filing Flows › CHS (CHSCP) › Q4 FY26 › vs Q3 FY26
CHS (CHSCP) Q4 FY26 vs Q3 FY26 (quarter over quarter)
CHS's revenue fell $1.2B (-10%) from $11.6B in Q3 FY26 to $10.4B in Q4 FY26. The biggest changes: Agronomy −$1.3B (-51%); Energy +$288M (+9%); Grains −$130M (-2%). Gross margin 9.2% against 3.5% (+5.7 pts).
CHS, Q4 FY26: revenue $10.4B (+21% year over year), operating margin 5.8%, net earnings $715M, operating cash flow $1.4B. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 9.2% | 3.5% | +5.7 pts |
| Operating margin | 5.8% | 0.9% | +4.9 pts |
| Net margin | 6.9% | 2.3% | +4.5 pts |
| Free cash flow margin | 12.1% | 8.5% | +3.6 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Grains | $5.5B | $5.7B | −$130M | -2% |
| Energy | $3.6B | $3.3B | $288M | +9% |
| Agronomy | $1.3B | $2.6B | −$1.3B | -51% |
| Revenue | $10.4B | $11.6B | −$1.2B | -10% |
| Gross profit | $962M | $411M | $551M | +134% |
| Cost of revenue | $9.5B | $11.2B | −$1.7B | -15% |
| Other income, net | $135M | $174M | −$38.7M | -22% |
| Operating profit | $604M | $108M | $496M | +458% |
| Operating expenses | $358M | $302M | $55.7M | +18% |
| Pre-tax earnings | $739M | $282M | $457M | +162% |
| Net earnings | $715M | $267M | $448M | +167% |
| Income tax | $24.1M | $14.7M | $9.4M | +64% |
| Depreciation & amortization | $168M | $165M | $3.0M | +2% |
| Working capital & other | $499M | $675M | −$176M | -26% |
| Operating cash flow | $1.4B | $1.1B | $275M | +25% |
| Free cash flow (OCF − capex) | $1.3B | $985M | $279M | +28% |
| Capital expenditures | $119M | $123M | −$4.4M | -4% |
Questions
How much did CHS's revenue grow quarter over quarter in Q4 FY26?
CHS's revenue fell $1.2B (-10%) from $11.6B in Q3 FY26 to $10.4B in Q4 FY26.
What drove CHS's revenue change in Q4 FY26?
Agronomy −$1.3B (-51%); Energy +$288M (+9%); Grains −$130M (-2%).