CHS (NASDAQ:CHSCL), the nation’s leading agribusiness cooperative owned by farmers, ranchers, and cooperatives, reported a second-quarter fiscal 2026 net loss of $147.1 million on April 8, 2026.
The results reflect a widening deficit compared to the $75.8 million loss recorded in the same period last year, despite a year-over-year increase in total revenues to $8.4 billion.
The energy segment remained the primary drag on the cooperative's bottom line, posting a pretax loss of $133.6 million.
This downturn was driven predominantly by significantly higher expenses related to renewable energy credits and substantial hedging losses.
These headwinds largely overshadowed operational gains, including improved refined fuel product mixes and more favorable crack spreads during the quarter.
Within the Ag segment, performance was similarly muted.
Grains and oilseeds recorded a pretax loss of $17.9 million, while the agronomy division posted a pretax loss of $11.5 million.
Management noted that weaker margins in oilseed crushing and crop nutrients outweighed the positive impacts of strong corn exports and consistent contributions from the CF Nitrogen joint venture.
The Corporate and Services division also saw a reversal in performance, moving to a pretax loss of $1.9 million from prior-year income.
This shift was attributed primarily to lower equity method earnings from the company’s portfolio of joint ventures.
For the first six months of fiscal 2026, CHS reported cumulative net income attributable to the company of $113.4 million.
While the cooperative remains profitable on a year-to-date basis, these results are trending below the levels achieved during the first half of fiscal 2025.