CF Industries Holdings, Inc. Reports Full Year 2020 Net Earnings of $317 Million, EBITDA of $1,316 Million, Adjusted EBITDA of $1,350 Million
By: Corporate Communications
February 17, 2021
CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for its fourth quarter and year ended December 31, 2020.
- Full year net earnings of $317 million(1), or $1.47 per diluted share; EBITDA(2) of $1,316 million; adjusted EBITDA(2) of $1,350 million
- Fourth quarter net earnings of $87 million, or $0.40 per diluted share; EBITDA of $334 million; adjusted EBITDA of $338 million
- Full year net cash from operating activities of $1,231 million, free cash flow(3) of $748 million
- Lowest year-end rolling average recordable incident rate in Company history
- Company-record annual gross ammonia production of 10.4 million tons and company-record quarterly gross ammonia production of 2.7 million tons in the fourth quarter of 2020
- Company-record 20.3 million product tons sold
- Company to redeem remaining $250 million of Senior Secured Notes due December 2021
“Our team’s outstanding execution in 2020 produced multiple records for safety, production and sales volume, and delivered strong results in a challenging environment,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “Nitrogen industry dynamics entering 2021 are the most favorable we’ve seen in nearly a decade, as rising grain values and higher global energy prices are driving significant price appreciation for nitrogen products. We expect that these conditions will provide a very positive backdrop for the year.
“Longer term, we are focused on our clean energy strategy as a growth platform and continue to make progress on our initiatives. We see significant and growing interest from potential partners and customers in clean hydrogen and ammonia as a way to make real progress decarbonizing key industries. We believe we are uniquely positioned with our unparalleled asset base and technical knowledge to serve this developing demand.”
Read the full press release.