CF Industries Inc. reports first half 2022 net earnings

Highlights

• First half net earnings of US$2.05 billion, or US$9.78 per diluted share and EBITDA of US$3.47 billion, which include the impact of pre-tax restructuring charges of US$162 million related to the Company’s UK operations; adjusted EBITDA of US$3.60 billion.
• Second quarter net earnings of US$1.17 billion, or US$5.58 per diluted share, and EBITDA of US$1.80 billion, which include the impact of pre-tax restructuring charges of US$162 million related to the Company’s UK operations; adjusted EBITDA of US$1.95 billion.
• Trailing twelve months net cash from operating activities of US$4.45 billion, free cash flow of US$3.61 billion
• Repurchased approximately 6.6 million shares for US$590 million during the first half of 2022.
• CF Industries and Mitsui & Co., Ltd. have signed a joint development agreement for the companies’ proposed export-oriented greenfield ammonia production facility in the United States to produce blue ammonia.

Tony Will, president and chief executive officer, CF Industries Holdings, Inc. said: “The CF Industries team delivered a strong operational performance and leveraged our manufacturing and logistics flexibility to drive outstanding results in the first half of 2022, despite weather-related challenges during the North American planting and fertilizer application season. We continue to believe it will take several years to replenish global grains stocks, underscoring the critical role CF Industries plays supplying nutrients to farmers around the world during a period when marginal producers in Europe and Asia face production curtailments due to historically high natural gas prices.”

Read the article online at: https://www.worldfertilizer.com/product-news/02082022/cf-industries-inc-reports-first-half-2022-net-earnings-of-us205-billion/