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FULL YEAR: CF INDUSTRIES SALES UP 59%, EARNINGS TRIPLE TO $917 MILLION
CF Industries reports:

Deerfield, IL - CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for the full year and fourth quarter ended December 31, 2021.

Highlights

Full year net earnings of $917 million(1), or $4.24 per diluted share, and EBITDA(2) of $2.17 billion, which include the impact of pre-tax non-cash impairment charges of $521 million related to the Company's U.K. operations; adjusted EBITDA(2) of $2.74 billion

Fourth quarter earnings of $705 million(1), or $3.27 per diluted share, and EBITDA of $1.19 billion; adjusted EBITDA of $1.26 billion

Full year net cash from operating activities of $2.87 billion, free cash flow(3) of $2.17 billion, both Company records

Repurchased approximately 7.5 million shares for $490 million during the fourth quarter, effectively completing the $1 billion share repurchase authorization that expired December 31, 2021

The U.S. Department of Commerce (Commerce) made preliminary determinations in January 2022 that Russian urea ammonium nitrate (UAN) imports are dumped into the U.S. at margins ranging from 9.15% to 127.19%, and that Trinidadian UAN imports are dumped into the U.S. at a margin of 63.08%

"The CF Industries team delivered outstanding results in 2021 as strong global nitrogen demand, lower global operating rates and favorable energy spreads drove Company-record free cash generation," said Tony Will, president and chief executive officer, CF Industries Holdings, Inc.

"We expect global nitrogen fundamentals to remain positive, underpinned by the need to replenish global grains stocks, increased economic activity and global energy dynamics. We are well-positioned to continue to drive strong cash generation, enabling us to invest in our clean energy initiatives, return substantial capital to shareholders and achieve our goal of $3 billion of gross debt by 2023," said Will.

To view the complete report, click here.


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