earnings
confidence high
sentiment negative
materiality 0.75
CF Industries Q1 net earnings $194M, EPS $1.03, revenue $1.47B, adj. EBITDA $459M
CF Industries Holdings, Inc.
2024-Q1 EPS reported
$1.03
revenue$1,470,000,000
- Net earnings $194M ($1.03/diluted) vs $560M ($2.85) in Q1 2023; net sales $1.47B down from $2.01B.
- Adjusted EBITDA $459M vs $866M; gross margin fell to 27.8% from 42.9%.
- Production outages from severe cold and maintenance incurred ~$75M higher maintenance expenses; ammonia production 2.1M tons vs 2.4M.
- Executed JDA with JERA to explore ~1.4M ton low-carbon ammonia plant at Louisiana Blue Point; FID expected within a year.
- Repurchased 4.3M shares for $347M in Q1; $2.2B remaining under $3B buyback program.