Financial Performance Highlights - Q3 2025 net earnings reached $353 million[9] - Q3 2025 adjusted EBITDA was $667 million[10], while the last twelve months (LTM) adjusted EBITDA totaled $26 billion[11] - The company generated $17 billion in cash from operations and $17 billion in free cash flow over the last twelve months[11] - For the first nine months of 2025, net earnings amounted to $11 billion and adjusted EBITDA reached $21 billion[11] Capital Allocation and Shareholder Returns - Approximately $20 billion has been authorized for share repurchases through 2029[12] - Around $13 billion was returned to shareholders through share repurchases and dividends in the first nine months of 2025[16] Operational Excellence and Production - The company achieved a capacity utilization rate of 97% for the first nine months of 2025[13] - Gross ammonia production in 2025 is expected to be approximately 10 million tons[16] Strategic Initiatives and Outlook - The company is on track to reduce CO2-e emissions per ton of product by 25% by 2030[16] - Strategic initiatives are expected to contribute 20% to approximately $3 billion in EBITDA and 33% to approximately $2 billion in free cash flow from the current mid-cycle to the expected 2030 mid-cycle[16] Market Dynamics - Global supply-demand balance is expected to tighten as demand outpaces global nitrogen capacity growth[16]