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1ST QUARTER: CF INDUSTRIES' SALES DOWN 3%, NET EARNINGS DOWN 25%
Source: CF Industries news release

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Deerfield, IL - CF Industries Holdings, Inc. (NYSE: CF), a leading global fertilizer and chemical company, today announced results for its first quarter ended March 31, 2020.

"The CF team is performing exceptionally well in a very difficult and uncertain environment created by the COVID-19 pandemic," said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. "We are operating safely, achieving high asset utilization rates and reliably supplying our customers as we enter the peak spring demand period in North America and the United Kingdom. Our unwavering focus on protecting the health and well-being of our employees will support our ability to continue to operate strongly. This will serve us well as we meet the anticipated high demand for nitrogen in North America this spring."

Operations Overview
To this point, CF Industries' operations, which are designated as part of the "critical infrastructure" in each country in which it operates, have not been disrupted by the COVID-19 pandemic, and the company has continued to operate safely and efficiently. As of March 31, 2020, the company's 12-month rolling average recordable incident rate was 0.34 incidents per 200,000 work hours, the lowest level ever recorded by the company. Gross ammonia production for the first quarter of 2020 was approximately 2.7 million tons, which is the second highest quarterly volume in company history.


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