CF Industries announces 4Q19 results

Highlights

• Full year net earnings of US$493 million, or US$2.23 per diluted share; EBITDA of US$1620 million; adjusted EBITDA(2) of US$1610 million.
• 4Q19 net earnings of US$55 million, or US$0.25 per diluted share; EBITDA of US$306 million; adjusted EBITDA of US$325 million.
• Full year net cash from operating activities of US$1505 million, free cash flow of US$915 million.
• Lowest year-end 12-month rolling average recordable incident rate in company’s history.
• Set company record for quarterly gross ammonia production in fourth quarter.
• Redeemed US$750 million in debt, lowering long-term debt to US$4.0 billion.
• Repurchased 1.9 million shares during the quarter.

“The CF team executed exceptionally well in 2019, achieving our lowest year-end recordable incident rate ever and delivering a 15% increase in adjusted EBITDA compared to 2018,” said Tony Will, President and CEO, CF Industries Holdings, Inc. “Our 2019 performance and our position on the low-end of the global nitrogen cost curve enabled us to generate more than US$900 million in free cash flow, strengthen our balance sheet and increase shareholder participation in the underlying business. As a result, we delivered a one-year total shareholder return of 13 percent, which was the top performance in our fertilizer peer group.”

Read the article online at: https://www.worldfertilizer.com/nitrogen/14022020/cf-industries-announces-4q19-results/