KEVIN JONES, PRESIDENT / CEO
Kevin.Jones@NuWay-KandH.com
As I write this, we have two months left in our fiscal year; however, the majority of our business is in the books. So, I can confidently predict we’ll achieve or be ahead of budget in all departments except propane.
Last season’s non-existent dryer season and a warmer-than-normal winter limited our 2023-2024 propane sales. Since we’re a customer-owned company, we consider these factors good for us, as well.
All the rest of our businesses—refined fuels, fertilizer, chemicals, custom application and retail stores—will meet or exceed budget.
We’ll offer more details on our most recent fiscal year this fall, after our auditors complete their work.
Cautious in the months ahead
In the last five years, we’ve done a lot of investing in equipment and other physical assets—and our people. We’ve been able to do so because of our stellar financial performance.
In the future, things may tighten up. Commodity markets have grown soft, and weather has been a challenge. We don’t have strong feelings on where the ag economy is headed, but we want to be cautious as we manage your company. So, we’re starting to pull back on our capital expenditures and tightening our belts a little. We’re looking at how we can accomplish more with less, should there be a downturn in the economy in the next 12 to 24 months.
Please understand, we’re not suggesting anybody panic, but we’re being conservative. NuWay-K&H Cooperative has put itself in a position to do this through the investments we’ve made in recent years. Stay tuned.
Outstanding people serve you
We’ve often said that we consider our people to be our most valuable asset. This fall, a couple of our people plan to retire. These two people represent the best in our employee group.
The first is Kim Haase. Kim has worked for K&H Energy and now NuWay-K&H Cooperative for 14 years. The second is Alvin Smidt, who has been doing the same thing under several cooperative administrations for 50 years.
Please take the time to read about these two extraordinary individuals on Page 12 and 13 of this newsletter.
