CF Industries Reports Strong Q4 Profit on Higher Ammonia Sales
Chicago, Illinois - Fertilizer producer CF Industries announced a significant increase in its fourth-quarter profit, driven by a surge in ammonia sales and steady market prices.
Key Highlights:
* Net sales rose by 15.6%, led by increased contractual commitments following the acquisition of Louisiana's Waggaman ammonia production facility.
* Quarterly net sales for the ammonia segment reached $572 million, up from $495 million in the previous year.
* The company anticipates continued demand for ammonia in North America and Brazil due to favorable corn market conditions.
Financial Performance:
* Net income increased by 19.7% to $328 million, equivalent to $1.89 per share.
* Capital expenditure is projected to range from $500 million to $550 million in the current year, representing a 1.4% increase.
Outlook:
CF Industries remains optimistic about the industry outlook, citing strong export demand for U.S. corn and improving plantation conditions. The company's expansion plans position it well to meet growing market needs.