CF Industries (CF) Tops Q1 EPS by 5c

CF Industries (NYSE: CF) reported Q1 EPS of $0.40, $0.05 better than the analyst estimate of $0.35. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.01 billion.

Highlights

• Net earnings of $90 million, or $0.40 per diluted share; EBITDA(1) of $301 million; adjusted EBITDA(1) of $305 million
• Repurchased approximately 1.5 million shares during the quarter under the previously announced $1 billion share repurchase program authorized through 2021

“The CF team’s strong execution, along with generally higher nitrogen prices compared to the year before, helped CF deliver solid results in the first quarter despite lower sales volumes driven by wet and cold weather,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “Looking ahead, we expect a compressed planting season and transportation issues to create logistical challenges in the Corn Belt over the next two months. We believe that our in-region production and extensive transportation and distribution network are tremendous advantages in this environment, enabling us to reliably deliver products to our customers when and where they need it.”

• Higher Year-Over-Year Urea, UAN and AN Prices Support Increased Margins
• Lower Volumes Driven by Wet, Cold Weather Delaying Spring Application Season
• Expect Strong Nitrogen Demand Through End of First Half 2019

For earnings history and earnings-related data on CF Industries (CF) click here.

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