Loading...
•
Dec 31, 2023
CF Industries Q4 2023 Earnings Report
CF Industries' Q4 2023 earnings decreased due to lower nitrogen prices and higher natural gas costs, but the company progressed on clean energy initiatives and completed the Waggaman ammonia facility acquisition.
Key Takeaways
CF Industries reported net sales of $1.57 billion and net earnings attributable to common stockholders of $274 million, or $1.44 per diluted share, for the fourth quarter of 2023. Adjusted EBITDA was $592 million for the quarter. The company progressed on clean energy initiatives and completed the Waggaman ammonia facility acquisition.
Net sales were $1.571 billion, compared to $2.608 billion in Q4 2022.
Net earnings attributable to common stockholders were $274 million, or $1.44 per diluted share.
Adjusted EBITDA was $592 million.
The Waggaman acquisition was completed, and integration into CF Industries’ network is underway.
Forward Guidance
Management expects industry fundamentals to remain favorable in 2024, with North American corn area planted expected to be 91 million acres. The company anticipates gross ammonia production to be approximately 10 million tons and capital expenditures to be in the range of $550 million.
Positive Outlook
- North America: Corn area planted expected to be 91 million acres
- India: Urea imports expected to be in a range of 6 – 7 million metric tons
- Brazil: Urea imports expected to be in a range of 7 – 8 million metric tons
- Europe: Imports of urea and other nitrogen products expected to remain elevated due to poor production environment
- China: Urea exports projected to be in the range of 4 million metric tons
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...