Reportedly, higher sales volumes more than offset lower average selling prices. Reuters reports that shares in CF Industries Holdings increased by 3.3% to US$39.30 in after market, reaching their highest price since late 2015.
CF Industries Holdings’ ammonia sales volumes also reportedly increased by 54% in the quarter, reportedly reaching 826 000 t. Reuters claims that this was due to the combination of lower Chinese exports and unusually high global demand. The average selling price for ammonia also decreased by 18%, falling to US$235/t.
Reuters also reports that the fertilizer producer’s net loss widened to US$87 million (US$0.37 per share) in 3Q17. This is compared to US$30 million (US$0.30 per share) in 3Q16.
According to Reuters, excluding items, CF Industries Holdings lost US$0.39 per share, which is smaller than the loss expected by analysts of US$0.54 per share.
The company’s net sales increased from US$680 million to US$870 million.