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Feb. 20, 2025 Source: CF Industries news release NORTHBROOK, Ill.-- 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, 2024. Highlights *Full year 2024 net earnings(1)(2)of $1.22 billion, or $6.74 per diluted share, EBITDA(3)of $2.33 billion, and adjusted EBITDA(3)of $2.28 billion *Fourth quarter 2024 net earnings of $328 million, or $1.89 per diluted share, EBITDA of $582 million, and adjusted EBITDA of $562 million *Full year 2024 net cash from operating activities of $2.27 billion and free cash flow(4) of $1.45 billion *Repurchased 18.8 million shares for $1.51 billion during 2024 "CF Industries' 2024 results reflect strong execution by our team against the backdrop of constructive global nitrogen industry dynamics," said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. "We believe our cost-advantaged North American-based production network, operational capabilities and disciplined strategic initiatives position CF Industries well to continue to create substantial value for long-term shareholders." Operations Overview As of December 31, 2024, the Company's 12-month rolling average recordable incident rate was 0.31 incidents per 200,000 work hours. Gross ammonia production for the full year and fourth quarter of 2024 was approximately 9.8 million and 2.6 million tons, respectively, compared to 9.5 million and 2.5 million tons for the full year and fourth quarter of 2023, respectively. The Company expects gross ammonia production in 2025 to be approximately 10 million tons. Financial Results Overview Full Year 2024 Financial Results For the full year 2024, net earnings attributable to common stockholders were $1.22 billion, or $6.74 per diluted share, EBITDA was $2.33 billion, and adjusted EBITDA was $2.28 billion. These results compare to full year 2023 net earnings attributable to common stockholders of $1.53 billion, or $7.87 per diluted share, EBITDA of $2.71 billion, and adjusted EBITDA of $2.76 billion. Net sales for the full year 2024 were $5.94 billion compared to $6.63 billion for 2023. Average selling prices for 2024 were lower than 2023 as lower global energy costs reduced the global market clearing price required to meet global demand. Sales volumes for 2024 were similar to 2023 as higher ammonia sales volumes due primarily to the addition of contractual commitments served from the recently acquired Waggaman ammonia production facility were offset by lower urea ammonium nitrate solution (UAN), ammonium nitrate (AN) and other sales volumes. Cost of sales for the full year 2024 was lower compared to 2023 due to lower realized natural gas costs partially offset by higher maintenance costs. The average cost of natural gas reflected in the Company's cost of sales was $2.40 per MMBtu for the full year 2024 compared to the average cost of natural gas in cost of sales of $3.67 per MMBtu for 2023. To read the entire report click here. Tweet |
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