The Zacks Fertilizers industry is hamstrung by softer fertilizer prices on demand weakness as growers have reduced application rates partly due to affordability issues. Elevated costs of key raw materials partly due to the Russia-Ukraine war have also put pressure on the margins of companies in this space.   However, favorable global agricultural fundamentals and healthy farm economics augur well for the industry. Fertilizer players such as CF Industries Holdings, Inc. (CF) , Yara International ASA (YARIY) ...

Financial Data and Key Metrics Changes - For Q2 2024, the company generated adjusted EBITDA of over $750 million, bringing the first half adjusted EBITDA to $1.2 billion [7][16] - Net earnings attributable to common stockholders for Q2 2024 were approximately $420 million, or $2.30 per diluted share, while for the first half, net earnings were about $614 million, or $3.31 per diluted share [16][17] - Trailing 12-month net cash from operations was $2 billion, with free cash flow at approximately $1.2 billion [17] Business Line Data and Key Metrics Changes - The ammonia plant operated at a 99% utilization rate in Q2 2024, following a challenging first quarter [9] - The Waggaman ammonia production facility operated approximately 10% above nameplate capacity after maintenance [9] Market Data and Key Metrics Changes - North American spring application season saw strong demand for urea and UAN due to higher-than-expected planted corn acres [12] - Global nitrogen supply-demand balance tightened as natural gas curtailments in Egypt led to production outages [14] - Brazil is projected to grow in urea consumption and imports, while India is expected to require substantial import volumes to meet demand [15] Company Strategy and Development Direction - The company is focused on decarbonization and clean energy projects, including carbon capture and sequestration initiatives [10] - The Donaldsonville project is on track for sequestration to begin in 2025, with a new project in Yazoo City expected to start in 2028 [10] - The company is evaluating the construction of a greenfield low-carbon ammonia facility in Louisiana [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing expected nitrogen demand growth and a tightening supply-demand balance [30] - The company noted that the agricultural sector is increasingly interested in low-carbon products, which could enhance pricing [25][26] - Management highlighted the importance of maintaining a disciplined approach to investments while continuing to return capital to shareholders [17][21] Other Important Information - The company has approximately $1.9 billion remaining on its share repurchase authorization, which is expected to be completed by December 2025 [17][56] - Recent transactions in the industry have reinforced the view that the company's enterprise value is significantly undervalued [17][20] Q&A Session Summary Question: Interest in low carbon ammonia from agriculture - Management noted a shift in demand towards low carbon ammonia from the agricultural sector, which was previously more focused on industrial applications [23][24] Question: Ammonia supply and potential oversupply - Management indicated that expected new demand is outpacing new construction, leading to a tightening in the supply-demand balance [30] Question: Valuation of assets based on recent transactions - Management discussed the need to consider the total cost of construction when evaluating asset values, emphasizing the importance of integrated plant costs [32][33] Question: Production rates and import trends in India and China - Management projected that India would import about 5 to 6 million tons of urea in 2024, while Brazil has become the largest importer [50][52] Question: Buyer behavior changes in the fertilizer market - Management observed a trend of delayed purchases among U.S. domestic customers due to lower corn prices and farmer liquidity issues [61] Question: Termination of supply agreement with Mosaic - Management confirmed ongoing negotiations with Mosaic for continued supply, emphasizing a strong relationship [62][64]

For the transition period from to Commission file number 001-32597 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 CF INDUSTRIES HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

CF Industries Holdings, Inc. (CF) reported second-quarter 2024 earnings of $2.30 per share, down from $2.70 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $1.80.Net sales fell around 11.4% year over year to $1,572 million in the quarter, missing the Zacks Consensus Estimate of $1,580.2 million.Average selling prices in the second quarter were lower year over year due to a fall in global energy costs, which reduced the global market clearing price required to meet demand. Sales ...

For the quarter ended June 2024, CF Industries (CF) reported revenue of $1.57 billion, down 11.4% over the same period last year. EPS came in at $2.30, compared to $2.70 in the year-ago quarter.The reported revenue represents a surprise of -0.52% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $1.80, the EPS surprise was +27.78%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

CF Industries (CF) came out with quarterly earnings of $2.30 per share, beating the Zacks Consensus Estimate of $1.80 per share. This compares to earnings of $2.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.78%. A quarter ago, it was expected that this fertilizer maker would post earnings of $1.47 per share when it actually produced earnings of $1.03, delivering a surprise of -29.93%.Over the last four quarters, the co ...

Strong Operational Performance in Second Quarter 2024 Favorable Energy Spreads Underpin Continued Strong Cash Generation Returned $832 Million to Shareholders through Dividends, Share Repurchases in First Half 2024 NORTHBROOK, Ill.—August 7, 2024—CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for the first half and second quarter ended June 30, 2024. Highlights "I am extremely proud of the team for running our plants exceptio ...

CF Industries Holdings, Inc. (CF) is set to release second-quarter 2024 results after the closing bell on Aug 7.CF Industries missed the Zacks Consensus Estimate for earnings in three of the trailing four quarters while beating it once. The company delivered a trailing four-quarter negative earnings surprise of 4.6%, on average. CF’s second-quarter results are likely to reflect the impacts of softer nitrogen prices. However, it is expected to have benefited from healthy nitrogen fertilizer demand in major m ...

simonkr If the stock market is headed for a further 3Q downdraft, as some expect, investors may want to consider their individual timing relative to my buy recommendation for CF Industries Holdings (NYSE:CF) to apply after the overall market stabilizes. At the same time, short-term traders should be aware the company’s 2Q24 earnings date is August 7, 2024. CF Industries is the world’s largest ammonia producer, with 10.4 million tons/year of capacity. Ammonia is the key ingredient for fertilizer. CF’s ma ...

In its upcoming report, CF Industries (CF) is predicted by Wall Street analysts to post quarterly earnings of $1.87 per share, reflecting a decline of 30.7% compared to the same period last year. Revenues are forecasted to be $1.58 billion, representing a year-over-year decrease of 11%.The current level reflects a downward revision of 3.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial pro ...