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FULL YEAR: CF INDUSTRIES" REVENUES UP 4%, EARNINGS UP 80%
Source: CF Industries news release

To read the entire report click here.

Highlights

*Full year net earnings of $493 million(1), or $2.23 per diluted share; EBITDA(2) of $1,620 million; adjusted EBITDA(2) of $1,610 million

*Fourth quarter net earnings of $55 million(1), or $0.25 per diluted share; EBITDAof $306 million; adjusted EBITDA of $325 million

*Full year net cash from operating activities of $1,505 million, free cash flow(3) of $915 million

*Lowest year-end 12-month rolling average recordable incident rate in company's history

*Set company record for quarterly gross ammonia production in fourth quarter

*Redeemed $750 million in debt, lowering long-term debt to $4.0 billion

*Repurchased 1.9 million shares during the quarter
Overview of Results

CF Industries Holdings, Inc. today announced full year 2019 net earnings attributable to common stockholders of $493 million, or $2.23 per diluted share; EBITDA of $1,620 million; and adjusted EBITDA of $1,610 million. These results compare to the full year 2018 net earnings attributable to common stockholders of $290 million, or $1.24 per diluted share; EBITDA of $1,429 million; and adjusted EBITDA of $1,403 million.

For the fourth quarter of 2019, net earnings attributable to common stockholders were $55 million, or $0.25 per diluted share; EBITDA was $306 million; and adjusted EBITDA was $325 million. These results compare to fourth quarter 2018 net earnings attributable to common stockholders of $49 million, or $0.21 per diluted share; EBITDA of $349 million; and adjusted EBITDA of $341 million.

"The CF team executed exceptionally well in 2019, achieving our lowest year-end recordable incident rate ever and delivering a 15 percent increase in adjusted EBITDA compared to 2018," said Tony Will, president and chief executive officer, CF Industries Holdings, Inc.

"Our 2019 performance and our position on the low-end of the global nitrogen cost curve enabled us to generate more than $900 million in free cash flow, strengthen our balance sheet and increase shareholder participation in the underlying business. As a result, we delivered a one-year total shareholder return of 13 percent, which was the top performance in our fertilizer peer group."


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