- Net Sales
- Total net sales: $1.57 billion, down 11% year-over-year (y/y), but above the estimate of $1.52 billion.
- Other net sales: $133 million, down 3.6% y/y, below the estimate of $137.5 million.
- Ammonia
- Net sales: $409 million, down 22% y/y, in line with the estimate of $409.2 million.
- Sales volume: 979,000 tons, down 7% y/y, close to the estimate of 978,472 tons.
- Average selling price: $418 per ton, down 16% y/y, slightly below the estimate of $421.11 per ton.
- Granular Urea
- Net sales: $457 million, down 0.7% y/y, but above the estimate of $398.8 million.
- Sales volume: 1.25 million tons, up 9.1% y/y, exceeding the estimate of 1.15 million tons.
- Average selling price: $365 per ton, down 9% y/y, higher than the estimate of $346.88 per ton.
- UAN (Urea Ammonium Nitrate)
- Net sales: $475 million, down 13% y/y, above the estimate of $456.7 million.
- Sales volume: 1.75 million tons, down 3.4% y/y, near the estimate of 1.76 million tons.
- Average selling price: $272 per ton, down 10% y/y, above the estimate of $259.31 per ton.
- AN (Ammonium Nitrate)
- Net sales: $98 million, down 5.8% y/y, below the estimate of $109.8 million.
- Sales volume: 340,000 tons, down 7.9% y/y, below the estimate of 378,766 tons.
- Average selling price: $288 per ton, up 2.1% y/y, close to the estimate of $289.47 per ton.
- Financial Metrics
- Earnings per share (EPS): $2.30, down from $2.70 y/y, but above the estimate of $1.83.
- Cash and cash equivalents: $1.82 billion, down 43% y/y, below the estimate of $1.91 billion.
- Company Outlook
- Expected gross ammonia production for full year 2024: approximately 9.8 million tons.
- Analyst Recommendations
- 6 buy ratings, 13 hold ratings, 2 sell ratings.
Cf Industries Holdings on Smartkarma
Independent analysts on Smartkarma, such as Baptista Research, have been providing insightful coverage of Cf Industries Holdings. In one research report titled “CF Industries: Impact of Clean Ammonia Market and Demand! – Major Drivers,” the analysts discussed operational disruptions and lower production results in the first quarter of 2024 for CF Industries Holdings. Factors such as unplanned downtime and severe weather conditions affected the company’s earnings, with an adjusted EBITDA of $460 million reported.
In another report by Baptista Research titled “CF Industries: Export Opportunities and Global Market Dynamics – Major Drivers,” the analysts highlighted the strong performance of CF Industries Holdings in the full year and fourth quarter of 2023. The company’s balanced nitrogen supply-demand situation and favorable energy spreads in North America contributed to impressive financial results, including approximately $2.8 billion in adjusted EBITDA and net cash from operations, as well as $1.8 billion in free cash flow.
A look at Cf Industries Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
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The long-term outlook for Cf Industries Holdings is promising, as indicated by its Smartkarma Smart Scores. With a strong score of 5 in Growth, the company is expected to experience steady expansion and development in the future. This factor signifies positive prospects for Cf Industries Holdings to increase its market presence and profitability over time. Additionally, the company also scores well in Value, Resilience, and Momentum, each with a score of 3, reflecting a solid foundation, stability, and consistent performance. These scores suggest a well-rounded approach towards sustainable growth.
Cf Industries Holdings, Inc. is a renowned manufacturer and distributor of nitrogen and phosphate fertilizer products on a global scale. The company’s diversified product portfolio includes essential offerings such as ammonia, urea, ammonium nitrate, and phosphate fertilizers like diammonium phosphate and monoammonium phosphate. With its strategic focus on growth and a resilient business model, Cf Industries Holdings stands poised to capitalize on opportunities in the agricultural industry and enhance its market position in the long run.
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Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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