CF Industries Holdings, Inc. Reports First Nine Months 2022 Net Earnings of $2.49 Billion, Adjusted EBITDA of $4.58 Billion
By: Corporate Communications
November 2, 2022
CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for the first nine months and third quarter ended September 30, 2022.
- First nine months net earnings of $2.49 billion(1), or $12.04 per diluted share, EBITDA(2) of $4.30 billion, and adjusted EBITDA(2) of $4.58 billion
- Third quarter net earnings of $438 million(1), or $2.18 per diluted share, EBITDA(2) of $826 million, and adjusted EBITDA(2) of $983 million
- Trailing twelve months net cash from operating activities of $4.75 billion, free cash flow(3) of $3.68 billion
- Repurchased approximately 6.1 million shares for $532 million during the third quarter of 2022; new $3 billion share repurchase program authorized through 2025
- Company entered into the largest-of-its-kind commercial agreement with ExxonMobil to capture and permanently store up to 2 million tons of CO2 emissions annually from its Donaldsonville Complex in Louisiana
- Initiated front-end engineering and design study for proposed joint venture with Mitsui & Co. to construct a greenfield blue ammonia facility in Ascension Parish, Louisiana
“The CF Industries team continues to deliver outstanding results as we work safely, run our plants extremely well and leverage our distribution and logistics capabilities to serve customers in North America and around the world,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “The conditions that have supported nitrogen prices for the last year - reduced global supply availability from lower operating rates due to high energy costs for marginal production in Europe and Asia - show no signs of abating. As a result, we expect the global nitrogen supply-demand balance to remain tight with attractive margin opportunities for low-cost producers further into the future.”
Read the complete press release.